Steel rebar prices in the United Arab Emirates continued to rise in the week to Tuesday, May 25 on improving demand, while imported steel billet prices fell due to a lack of interest, sources told Fastmarkets.
After securing steel billet volumes in the week to May 18, rebar producers were said to have enough in stock to last for more than a month, so were no longer interested in making further bookings.The country's biggest producer, Emirates Steel, was offering rebar at 3,067 dirhams ($835) per tonne ex-works, while Conares Steel was offering the product at 3,060 dirhams per...