Bahrain-based rebar producer Unirol has recently followed the general uptrend seen in the global market and has increased its local offers before the Eid holiday.
The company’s rebar price has increased by $53/mt or BHD 20/mt since last month to $742/mt (BHD 280/mt) CPT, SteelOrbis has learned. The key reason for the price rise is the upturn in raw material prices and thus in the mill’s production costs.
Moreover, the market may witness a further price uptrend after the holiday, mainly as there are expectations for better demand given traders’ low inventories. Construction activity may also pick up in the near future, though it is still restrained by seasonal and weather factors. UAE’s ESI has lately sold rebar to Bahrain at $690/mt CPT and is expected to increase its local and export offers after the holiday, SteelOrbis understands.
BHD 1 = $2.65