GULF STEEL BILLET, REBAR: Market stable; buyers eye falling scrap prices

The prices of steel rebar and billet in the United Arab Emirates were stable over the past week, with buyers retreating to see the effect of falling scrap prices on finished steel prices, market sources said on Tuesday February 11.

Fastmarkets’ daily index for steel scrap, HMS 1&2 (80:20 mix), Northern Europe origin, cfr Turkey was $252.80 per tonne on Monday February 10, up slightly from $261.40 per tonne on February 3 but down by 15% from $298.42 per tonne at the start of the year.

Billet...

Published

Serife Durmus

February 11, 2020

14:43 GMT

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