Prices for imported steel billet in the UAE have increased this week while rebar prices in that country and in Saudi Arabia have remained stable, sources have told Metal Bulletin.
Demand for imported rebar, meanwhile, was very weak in both countries because local prices were more competitive.BilletIranian mills were offering billet at $520-525 per tonne cfr to the UAE for late-March delivery, while billet from Gulf Co-operation Council (GCC) countries was on offer at $545-550 per tonne cfr for late-January delivery.A buyer was bidding $530-535 per tonne cfr for GCC-origin billet.About 20,000 tonnes of billet was booked to...