GULF STEEL BILLET, REBAR: Prices stable amid weak demand

Prices for steel rebar and billet in the United Arab Emirates were stable in the week to Tuesday February 18, with demand remaining weak because buyers wanted to wait and see the direction of prices, market sources said.

Scrap prices have been increasing recently following steep falls since mid-January, so some buyers believe billet and rebar prices may also recover, if demand picks up.

Fastmarkets’ daily index for steel scrap, HMS 1&2 (80:20 mix), Northern Europe origin, cfr Turkey, was $268.17 per tonne on Monday February 17, up from $252.80...


Serife Durmus

February 18, 2020

14:05 GMT