GULF STEEL BILLET, REBAR: Producers cut rebar prices to encourage sales in quiet market

Rebar producers in the United Arab Emirates sold material at reduced prices in the week to Tuesday, March 30, to encourage sales despite limited demand, sources told Fastmarkets.

Rebar producers in the UAE rolled over their offer prices on March 22 and are officially offering rebar at 2,530-2,545 dirhams ($689-693) per tonne ex-works.
However, deals were heard at 2,300-2,435 dirhams per tonne during the week, sources said, down from 2,400-2,480 dirhams per tonne ex-works last week.

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