05
Sep
09:44
Oman rebar market comes under price pressure
Oman's rebar market is under price pressure. Buyers are holding back their enquiries since they believe there is still room for values to fall on lower billet cost, Kallanish notes.
Traders are aware of Iranian-origin billet being available at $480-490/tonne cfr Oman. They are thus pushing local mills to reduce their rebar quotes for September deliveries, while end-users are purchasing minimum quantities, anticipating prices to drop gradually each week.
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Anonymous
Very good overview of the weekly steel market.
Anonymous