GULF STEEL BILLET, REBAR: Prices fall on global uncertainty

Prices for steel rebar and billet in the United Arab Emirates dropped in the week to Tuesday, June 1, due to uncertainty over long and semi-finished steel values in the global market, sources told Fastmarkets.

Global long steel prices feel during the previous week after the Chinese government warned steel producers against high prices.
Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), export, fob main port Turkey, was $750-760 per tonne on Thursday May 27, down from $780-790 per tonne.
As a result, buyers in the UAE decided to wait for new prices from local producers before placing new orders.
Domestic rebar

Since May 18, the...

Gold stocks rocket to new highs, valuations no longer inexpensive

Tariff issue caused by potential definition change of traded gold bars

US BLS head removed after revisions to employment data

Gold stocks down even as metal price rises

Copper market distortions driven by new US tariff policies