GULF STEEL BILLET, REBAR: Prices increase sharply on strong demand

Steel billet and rebar prices increased sharply in the United Arab Emirates during the week ending Tuesday May 18 due to very good demand after the Eid al-Fitr holiday ending earlier in the week, sources told Fastmarkets.

“Contractors are buying more steel, expecting big price increases,” one trader told Fastmarkets.

The country’s biggest producer, Emirates Steel, announced its rebar price at 3,067 dirhams ($835) per tonne ex-works with effect from May 18, rising from 2,535 dirhams per tonne ex-works previously.
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Published

Serife Durmus

May 18, 2021

14:44 GMT

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