Domestic rebar producers in the United Arab Emirates reduced their prices on Tuesday August 24 amid low demand, sources told Fastmarkets.
Demand was low because of the summer slowdown and falling prices; buyers preferred to wait to determine how much further prices will fall.The country's biggest producer, Emirates Steel, offered rebar at 2,610 dirhams ($710.46) per tonne, down from 2,957 dirhams per tonne ex-works on July 27.
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