GULF STEEL BILLET, REBAR: Prices supported by bullish expectations; market activity yet to resume

Steel rebar and billet prices in the United Arab Emirates increased this week because of higher offers and assessments, but market activity was yet to resume after the end-of-year period, sources said on Tuesday January 5.

Domestic rebar
The country's steel producers sold rebar at 2,259-2,295.5 dirhams ($615-625) per tonne ex-works the week before for orders to be produced in January and have closed their orderbooks.
No new deals were made this week because sellers were not offering any product.

New domestic rebar prices, expected to be announced around mid-January, could...

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