Steel billet and rebar prices increased sharply in the United Arab Emirates during the week ending Tuesday May 18 due to very good demand after the Eid al-Fitr holiday ending earlier in the week, sources told Fastmarkets.
“Contractors are buying more steel, expecting big price increases,” one trader told Fastmarkets.
The country’s biggest producer, Emirates Steel, announced its rebar price at 3,067 dirhams ($835) per tonne ex-works with effect from May 18, rising from 2,535 dirhams per tonne ex-works previously.
Other rebar producers in the country had not announced any new prices at the time of publication, but market participants said they expected new prices to be over 3,000 dirhams per tonne ex-works.
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, exw UAE was 3,000-1,067 dirhams per tonne on May 18, rising from 2,530-2,545 dirhams per tonne on May 11.
Rebar imports ***
No new rebar import prices were heard this week but market participants said they expected prices to be around $800-830 per tonne cfr, rising in line with local rebar prices.
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), import, cfr Jebel Ali, UAE, on a theoretical-weight basis, was $800-810 per tonne on May 18, rising from $660-667 per tonne on May 11.
Billet imports ***
Oman offered billet at $755-800 per tonne cpt UAE.
No deals were heard, because the Eid al-Fitr holiday ended very recently on May 17.
As a result, Fastmarkets’ weekly price assessment for steel billet, import, cfr Jebel Ali, UAE was $755-780 per tonne on Tuesday, rising from $610-620 per tonne on May 11.
این مطلب بدون برچسب می باشد.
ثبت دیدگاه