GULF STEEL BILLET, REBAR: Prices fall sharply on weak trading

The prices for steel rebar and billet in the United Arab Emirates have decreased sharply over the past week, with demand very weak amid concerns about the spread of the Covid-19 pandemic, market sources said on Tuesday March 31.

Local rebar producers announced new domestic prices last week.
Emirates Steel is now offering rebar at 1,690 dirhams ($460) per tonne ex-works, down from 1,853 dirhams per tonne ex-works previously.
Hamriyah Steel is offering rebar at 1,650 dirhams per tonne ex-works, down from 1,853 dirhams per tonne ex-works previously.

Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, exw UAE, was 1,650-1,690 dirhams per tonne on March 31, falling from...

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