In this week's Kuwaiti domestic rebar market, medium size rebar offers have remained unchanged at the price range of KWD 210-214/mt ($754-768/mt) ex-warehouse, on theoretical weight basis.
As SteelOrbis reported last week, Turkish mills' rebar offers to Kuwait were standing at $685-690/mt CFR two weeks ago. However, since no transaction was concluded at this price range amid weak rebar demand in the country, Turkish mills' rebar offers to Kuwait have softened this week, declining to $680-685/mt CFR. But no booking has been concluded either at this price range so far. Still finding current prices to be on the high side, Kuwaiti buyers are currently adopting a wait-and-see stance.
SteelOrbis has learned from its sources that work is continuing on existing construction projects in the country, while it is expected that new projects may be launched once political stability is assured.
KWD 1 = $3.59