November 22, 2008

Kuwait cut domestic prices for rebar by USD 150 per tonne

It is reported that Kuwait’s long product market is following the global price downward trend. Low business before the Ramadan celebrations, slowing construction activities, considerable warehouse stocks and unstoppably decreasing prices for import long products have forced producers in Kuwait to cut September prices for rebar by USD 150 per tonne.

However, the level of plants’ quotations remains the highest among the Persian Gulf countries. In particular, September prices of United Steel Industrial Company are USD 1345 to USD 1350 per tonne EXW as compared with August’s price of USD 1495 to USD 1500 per tonne EXW on theoretical weight basis.