24
Jul
15:19
Emirates Steel slashes rebar as UAE slowdown bites
Abu Dhabi-based Emirates Steel (ESI) has slashed its rebar price by AED 117/tonne ($32) from the previous month to AED 2,178/t ($593) ex-works for August deliveries. This comes as a slowdown in United Arab Emirates market activity has curbed steel demand.
The sentiment boost provided in May by the announcement of the Gulf Cooperation Council’s rebar import duty increase to 10% has now dissipated. Meanwhile, Iran’s potential withdrawal from the export…
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Anonymous
Very good overview of the weekly steel market.
Anonymous