Prices for steel billet and rebar were stable in the United Arab Emirates during the week to Tuesday May 11 because of the start of the Eid Al-Fitr holiday in the country, sources told Fastmarkets.
Most buyers, however, expect prices to increase by a minimum of $50 per tonne once holidays are over in the next week, Fastmarkets heard.The reason behind buyers' increased price expectations is high steel prices worldwide and the fact that demand should improve after...