Prices for rebar and billet in the United Arab Emirates were mostly stable in the week to Tuesday October 23, although market participants expect to soon see an increase in import duties.
Members of the Gulf Co-operation Council (GCC) will soon increase import duties on rebar and wire rod to 10% from the current 5%, sources told Fastmarkets on Tuesday, October 23.No official announcement has yet been made, but several sources said the authorities had already told market participants that import duties will rise.The GCC comprises Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United...