The import prices for steel billet and rebar in the United Arab Emirates increased slightly over the past week, while demand was weak because of the Islamic holy month of Ramadan, as well as the Covid-19 pandemic, market sources said on Tuesday May 12.
Market participants in the United Arab Emirates (UAE) believe demand is unlikely to improve before late May, when Ramadan will end. Local rebar producers in the UAE have kept their prices unchanged for orders with May delivery, sources said.Emirates Steel and Conares Steel are offering rebar at 1,690 dirhams ($460) per tonne ex-works, while Hamriyah Steel is offering rebar at 1,650 dirhams per tonne ex-works.
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