GULF STEEL BILLET, REBAR: Import billet price rises, but rebar price falls

The import price for steel billet in the United Arab Emirates has widened upward in new deals over the past week, but the price of rebar has decreased, sources told Fastmarkets on Tuesday May 21.

Domestic rebar Local demand was weak in the country because of the Islamic holy month of Ramadan, which started earlier in May, and the expectation that prices could fall further. The observance of Ramadan in Muslim communities and countries typically results in shorter working days and reduced demand for steel and other materials. The southern Gulf country’s largest producer, Emirates Steel,...

Published

Serife Durmus

May 21, 2019

16:44 GMT

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