SteelOrbis has heard that in this week's Kuwaiti domestic rebar market medium size rebar offers still stand in the price range of KWD 220-230/mt ($787-822/mt) ex-warehouse, including taxes, on theoretical weight basis. However, local buyers are hesitating to conclude new rebar bookings.
Meanwhile, following the last Turkish rebar offers to Kuwait at $720-740/mt CFR on theoretical weight basis, Kuwaiti buyers are now waiting for scrap prices in Turkey to gain clarity.
Due to the 12-day public holiday in Kuwait starting from February 17, rebar transactions in the Kuwaiti market may slow down in the coming period.
KWD 1 = $3.576