International Long Product Market Analysis

摘要

Saudi Arabia has lifted its ban on rebar exports this week, signallingthat domestic capacity expansions over recent years have outpaceddemand growth. Indeed, according to the Arab Iron and Steel Union,of Saudi’s 10.5 mtpy rebar capacity over 1.5 mtpy is unutilised.(Capacity should increase to 12.6 mtpy once capacity expansions arecompleted this quarter, according to the MBR Capacity and CapexDatabase Q1 2015). This means that the original rationale for the exportban, which was to ensure the security of supply to the country’sgrowing construction market, no longer holds.