GULF STEEL BILLET, REBAR: New billet deals push prices up, rebar stable

Prices for imported steel billet in the United Arab Emirates increased this week in the latest deals heard, while rebar prices remained stable, sources told Fastmarkets on Tuesday April 9.

Domestic rebar Local rebar producers in the UAE kept their prices unchanged for May production, with demand expected to remain weak because the Islamic holy month of Ramadan starts early in that month. Observance of Ramadan among Muslim communities typically results in shorter working days and reduced demand for materials. The country’s largest producer, Emirates Steel, has been offering rebar to be shipped in May at 2,007 dirhams ($546) per tonne ex-works, while Conares Steel was offering rebar for...

Published

Serife Durmus

April 09, 2019

15:27 GMT

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