GULF STEEL BILLET, REBAR: Demand slow; buyers expect price rises on strong global markets

Prices for steel billet and rebar were stable in the United Arab Emirates during the week to Tuesday May 4 because of poor demand during the Islamic holy month of Ramadan, sources told Fastmarkets.

Most buyers, however, expect prices to increase by around $30-40 per tonne after the Eid-al Fitr holiday, which marks the end of Ramadan, in the next week.  
Usually, working hours are reduced during Ramadan and the month-long period is traditionally low liquidity for the Middle East region.

The reason for buyers' higher price expectations are globally high prices for steel billet, especially after China...


Serife Durmus

May 04, 2021

14:16 GMT