GULF STEEL BILLET, REBAR: Price increases continue, Hamriyah Steel announces new rebar price

Steel rebar and billet prices in the United Arab Emirates rose again in the week to Tuesday January 12 because of higher offers and market indications, but most rebar producers are yet to announce new prices for February production, sources said.

Demand for billet and rebar from end users was moderate to strong during the week, sources added.
Domestic rebar
Steel producers sold rebar at 2,259-2,295.5 dirhams ($615-625) per tonne ex-works for orders to be produced in January late in December and closed their orderbooks.
Local producer Hamriyah Steel is now offering rebar at 2,750 ($749) dirhams cpt UAE for February production, normalized to 2,735-2,740 dirhams per tonne ex-works.

UAE-based sources said...

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