GULF STEEL BILLET, REBAR: Uncertainty on rebar prices continues

The uncertainty about new domestic prices for steel rebar in the United Arab Emirates continued during the week ended Tuesday February 9, with trading subdued and no imports heard, sources told Fastmarkets.

Rebar producers in the UAE were expected to announce new prices next week, most probably after the Chinese New Year holiday (February 11-17).
Importers of billet and rebar preferred to wait until then, because import prices usually follow the price changes in domestic rebar, sources added.
Domestic rebar
The country’s steel producers have been offering rebar at 2,590-2,735 dirhams ($705-744) per tonne ex-works for February production since January 13.

But rebar deals were made at 2,400-2,450 dirhams per tonne...


Serife Durmus

February 09, 2021

17:03 GMT