GULF STEEL BILLET, REBAR: Prices increase despite low demand

Prices for long steel products in the United Arab Emirates have gone up during the week ending Tuesday April 20 despite demand being low, sources have told Fastmarkets.

The Islamic holy month of Ramadan started on April 12, and the traditional reduction in working hours meant that demand was weak in the country.

Rebar producers in the UAE rolled over their prices again with effect from April 16.

The country’s steel producers were officially offering rebar at 2,530-2,545 dirhams ($689-693) per tonne ex-works this week.

Despite prices being...

Published

Serife Durmus

April 20, 2021

15:48 GMT

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