The cost of rebar in the UAE in the first ten days of March fell by $5.5/t, to $667-681/t EXW, according to Kallanish. Traders note that the onset of Ramadan did not significantly affect demand from construction companies. Compared to February, the number of orders fell by only 3-5%.
In Saudi Arabia, due to Ramadan, prices fell more significantly, by $8-19/t, to $600-608/t EXW. This offer applies to large manufacturers such as Al Ittefaq, Rajhi, Al Yamamah, Watani. Smaller ones offer products at $573-579/t.
In Kuwait, traders expect prices to fall as a result of upcoming rebar deliveries from neighboring Qatar. Its cost on the market will be $555-560/t, including delivery. The offer from local producers in the first ten days of March was in the range of $574-578/t EXW. According to traders, demand for products in Kuwait remains high due to numerous construction projects financed by the state.
The Middle East region remains one of the main drivers of global construction, which forms the demand for rebar and long rolled products. The authorities continue the policy of economic diversification, seeking to distance themselves from oil revenues.
To this end, huge funds are being invested in the residential real estate sector, the leisure industry, as well as transport and social infrastructure. In general, the World Bank has counted 117 major programs in the Near and Middle East, worth more than $1 trillion, which are planned to be completed by 2030. In addition to government investment, foreign investors, primarily from China, play a significant role. They view investments in Middle Eastern real estate as a «safe haven.»
In the European market, rebar prices also declined in the first ten days of March. The cost of local producers’ products in Poland fell by $5-8/t compared to the last week of February, to $/688-699 CPT, according to Eurometal. Buyers surveyed by Fastmarkets claim that transactions were concluded in the range of $/680-688 CPT. Demand for rebar remains relatively weak, so even the temporary suspension of imports from Ukraine could not support prices.
A similar picture was observed in Southern Europe. In Italy, rebar lost €30/t in price in the first ten days of March, falling to €550-570/t EXW. Construction companies point to a sluggish pace of work, especially in housing construction. The sector is experiencing a downturn caused by a drop in apartment sales.
Prices for domestically produced rebar in the US were unchanged, holding in the range of $770-790/t. For imported products, supply expanded to $735-780/t, compared to $750-770/t a month ago. «Demand for rebar is pretty lousy,» one producer in the southeast region told Kallanish.
In January 2025, the number of new housing projects in the US decreased by 9.8% compared to the previous month, to 1.366 million units. At the same time, December 2024 showed the highest market growth rate since March 2021 – by 15.8%, to 1.499 million units.
As reported, in early 2025, Kametstal rollers successfully mastered the production of rebar according to a new Polish standard for themselves – B500SP. This became another step in strengthening the position of Ukrainian metallurgical products on the European market.
Courtesy: https://gmk.center/
