GULF STEEL BILLET, REBAR: Market quiet ahead of expected price rises

The steel billet and rebar markets in the United Arab Emirates remained quiet in the week to Tuesday, February 23, with buyers expecting prices to increase, sources told Fastmarkets.

“If the prices will increase is not the question,” a trader said, “[but rather] by how much will prices increase?” 
Rebar producers in the UAE are expected to announce new prices soon and buyers have been in wait-and-see mode since early February, in anticipation of higher prices because of increases in global raw materials and billet costs.

Fastmarkets’ daily index for steel scrap, HMS 1&2 (80:20...


Serife Durmus

February 23, 2021

17:07 GMT