15
May
15:14
Supply of billet in GCC tightens
Billet supply in the United Arab Emirates is becoming increasingly tight as ex-Iranian stocks at ports have reached minimum levels.
This, coupled with planned production cuts by Omani long steel producers due to electricity tariff increases between 1pm and 5pm from 1 June, is expected to impact the market. Despite this, local billet mills in the UAE are holding their prices at $530/tonne delivered and foresee no price increases in billet quotes. This is because r…
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Anonymous
Very good overview of the weekly steel market.
Anonymous