In the Kuwaiti domestic rebar market, medium size rebar offers have remained unchanged at the price range of KWD 210-214/mt ($758-773/mt) ex-warehouse, on theoretical weight basis. There is no local tax on rebar in the country.
As SteelOrbis has recently reported, domestic rebar demand has remained quiet in Kuwait as there are no big construction projects planned for 2012.
On the other hand, some rebar transactions were concluded at $660-670/mt CFR from Turkey to Kuwait in previous weeks, but no new offers are currently heard from Turkey to the Kuwaiti market. Meanwhile, local buyers still prefer to remain in wait-and-see mode, and demand levels remain low.
KWD 1 = $3.61