The prices for steel billet and rebar in the United Arab Emirates increased this week on higher offers from producers, but demand was only moderate, sources told Fastmarkets on Tuesday February 12.
Domestic rebarLocal rebar producers in the UAE increased their offer prices.The country's largest producer, Emirates Steel, was offering rebar to be shipped in February at 2,007 dirhams ($546) per tonne ex-works, up from 1,845 dirhams per tonne ex-works, while Conares Steel was offering rebar for March shipping at 2,000 dirhams per tonne ex-works, up from 1,835 dirhams per tonne ex-works.The reason for the price increases was that raw material costs were rising all over the world, market participants said, adding that...