Reinforcement sellers are waiting for prices

The Holy month of Ramadan (Uraza) ended and the long -awaited revitalization in the Middle Eastern market of the metal distribution began.

The Turkish market also revived, the flagship of which this year is housing construction. According to local statistical bodies, in the first seven months of the current year, the commissioning of living space exceeded 26.7% indicators of the same period of year ago. Taking advantage of the favorable opportunity, Turkish metal-service companies in early September raised domestic prices for reinforcement to about $ 620-630 per ton.

In the countries of the Persian Gulf, construction projects are currently being implemented with a total value of $ 1.3 trillion, of which more than $ 700 billion are on the UAE. Some construction sites stopped during the crisis are renewed again. In addition, the government of the Emirate Abu Dhabi implements a program to stimulate the economy through state investments, in particular, in the development of infrastructure. Courses of shares of leading construction companies on the Dubai Exchange in the first days after Ramadan went up. According to some experts, until the end of September, builders in the UAE will begin to expand the purchases of steel products, and distributors will pull up on the market behind them. Moreover, if it was more profitable for small batches of rental to purchase from local suppliers - Emirates Steel Industries or Qasco Qatarian company, then large ones need to be imported.

Even the leap of excitement demand is not excluded if everyone begins to replenish the spent reserves simultaneously, as happened in March. But whatever the rise, it will be unstable in any case. The production capacities of the Middle Eastern (in particular, Turkish) metallurgical companies were created during the time of boat, which will not be repeated in the foreseeable future. Now they are redundant.




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