GULF STEEL BILLET, REBAR: Billet price falls, trading weak as lockdown begins

The price for steel billet imported into the United Arab Emirates has decreased sharply over the past week, with demand being very weak amid concerns about the spread of the Covid-19 pandemic, market sources said on Tuesday April 7.

Authorities in Dubai announced a lockdown in the country for a period of two weeks starting on April 4, with people only allowed to leave their homes to shop for food or medicines. No trucks carrying anything other than food or medicine would be allowed into Dubai, which is the biggest consumer of steel in the UAE.

Even though there are no steel producers in Dubai, the lockdown will have a negative affect on steel consumption in the...

Published

Serife Durmus

April 07, 2020

15:45 GMT

Bursa