05
Jun
16:15
UAE scrap, billet quotes move contrariwise to rebar
Major billet producers in the United Arab Emirates have increased their rebar-grade 3sp prices, despite rebar prices falling from May.
The country's benchmark mill is eyeing domestic billet sales at $550/tonne ex-works for June deliveries, while induction furnace-route producers are targeting $535/t ex-works versus $525/t delivered in May, Kallanish understands.
Meanwhile, Omani mills are offering at $520-525/t ex-mill for 3sp billet, which has remained unch…
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Very good overview of the weekly steel market.
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