Steel rebar producers in the United Arab Emirates increased their prices on Tuesday December 22, but not by as much as expected due to the limited availability of imports, sources told Fastmarkets.
Domestic rebar
The country's steel producers were
offering rebar at 2,259-2,295.5 dirhams ($615-625) per tonne ex-works for orders to be produced in January, rising from 1,984,1,985 dirhams ($540) per tonne ex-works for orders produced in December.
Market participants in the UAE were
expecting new rebar prices to be at around 2,300-2,500 dirhams ($626-681) per tonne ex-works.
Despite less than expected, the reason for sharp increases...