Prices for steel billet and rebar in the United Arab Emirates dropped over the past seven days, while demand for both remained weak, sources told Fastmarkets on Tuesday May 28.
Domestic rebarLocal demand for rebar remained weak because of the Islamic holy month of Ramadan, which started earlier in May, and the expectation that prices could fall further.The observance of Ramadan in Muslim communities and countries typically results in shorter working days and reduced demand for steel and other materials.The UAE's largest producer, Emirates...