Hai Kwang cuts rebar price this week
After Taiwan’s Feng Hsin announced its rebar base price for this week; another major Taiwan steel rebar manufacturer, Hai Kwang, also reduced its rebar price by NTD$500/ton (USD15/mt) this week.The company’s rebar base price hit the same level as Feng Hsin’s, which is NTD$14,000/ton (USD425/mt). Both companies said this is really their bottom price for rebar at this moment, and that it would be impossible for them to reduce their price again in the near future. However, some buyers said that since the rainy season is coming soon and actual market demand remains weak, they don't think those rebar mills can hold this price for very long.
After Taiwan’s Feng Hsin announced its rebar base price for this week; another major Taiwan steel rebar manufacturer, Hai Kwang, also reduced its rebar price by NTD$500/ton (USD15/mt) this week.The company’s rebar base price hit the same level as Feng Hsin’s, which is NTD$14,000/ton (USD425/mt). Both companies said this is really their bottom price for rebar at this moment, and that it would be impossible for them to reduce their price again in the near future. However, some buyers said that since the rainy season is coming soon and actual market demand remains weak, they don't think those rebar mills can hold this price for very long.
Iran's I-beam prices fall
In recent two weeks, Iran's domestic I-beam prices fell sharply. Iran's 140-180mm I-beam prices reached US$730-780/ton, down by US$20/ton compared with last week, also dropped by US$40-45/ton than last two weeks.Meanwhile, Iran's 80-140mm U channel prices hit US$600-650/ton, down by US$15-20/ton.Iran's angel price continued to rise, which has reached US$580-630/ton, up by US$30-50/ton compared with last week.
Turkey lifts rebar export price
Turkish rebar price goes up in line with more demands and increases of scarp and square billet prices; the current Turkish rebar export price is US$465~$490/ton. Turkey offers higher price to Egypt because Egypt requests the immediate shipment. Besides, even thought the construction industry may be benefit by good weather, Turkish distributors are hesitating if it’s right time to purchase because the Turkish end users’ demands are not more and the rebar price consecutively enhances. Meanwhile, UAE’s rebar market slightly revives recently; however, UAE’s importers are trying not to increase the stock, the settle price for some resources between Turkish steel mills is about CFR Dubai US$465/ton. It’s said that Turkish rebar mills may raise the offers to UAE, but UAE’s market is facing the cash flow problem and retardation of construction industry nowadays.
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