GULF STEEL BILLET, REBAR: Market uncertainty continues despite new rebar prices

Uncertainty about steel product prices in the United Arab Emirates continued even after the country's biggest producer, Emirates Steel, announced a new rebar price on October 24, sources told Fastmarkets on Tuesday October 26.

Emirates Steel has been offering rebar at 2,490 dirhams ($678) per tonne ex-works since October 24, rising from the previous 2,406 dirhams per tonne ex-works.
But the price increase did not lead to more buying, because buyers believed that prices were too high for the current market, sources said.

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