GULF STEEL BILLET, REBAR: Trading slow as buyers wait for prices to fall

Buyers of steel rebar and billet market in the United Arab Emirates expected prices to decrease this week, with trading activity being very low, although producers kept their prices unchanged, sources told Fastmarkets on Tuesday February 2.

Importers of billet and rebar also preferred to wait, because import prices usually follow price changes in domestic rebar, sources added.
Domestic rebar
The country's steel producers have been offering rebar at 2,590-2,735 dirhams ($705-745) per tonne ex-works for February production since January 13, and announced unchanged prices last week, despite expectations of a price fall.

Market participants expected prices to decrease because...

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