22
Jan
00:00
ESI rolls over rebar price into February, despite expectations of lower Turkey-origin offers
Abu Dhabi-based Emirates Steel (ESI) has maintained its four-year low January rebar price of AED 1,985/tonne ($540/t) ex-works for February deliveries to the domestic market.
This is despite the expectation that Turkey-origin offers to UAE will imminently fall further owing to weakening scrap and an estimated 270,000t of Turkish rebar will arrive between the beginning of January and mid-February, resulting in oversupply in the market.
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Anonymous
Very good overview of the weekly steel market.
Anonymous