GULF STEEL BILLET, REBAR: Buyers accept higher rebar prices, but demand for billet imports limited

Rebar buyers in the UAE have done deals this week at the higher prices announced last week, but there is little demand for billet imports because producers have ample stocks, sources told Fastmarkets on Tuesday January 19.

And billet import activity is likely to remain slow for another week or two, depending on local demand for rebar, they added.
Domestic rebar
The country's steel producers have been offering rebar at 2,590-2,735 dirhams ($705-744) per tonne ex-works for February production since last week, and increase on the late-December deals, which were done at 2,259-2,295.5 dirhams ($615-625) per tonne ex-works, for orders to be produced in January.

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