Prices for steel billet and rebar were stable in the United Arab Emirates during the week to Tuesday May 4 because of poor demand during the Islamic holy month of Ramadan, sources told Fastmarkets.
Most buyers, however, expect prices to increase by around $30-40 per tonne after the Eid-al Fitr holiday, which marks the end of Ramadan, in the next week.The reason for buyers' higher price expectations are globally high prices for steel billet, especially after China...