Import prices for Gulf billet and rebar in the United Arab Emirates have increased this week but local rebar prices fell because producers gave discounts, sources told Fastmarkets on Tuesday March 9.
The country’s steel producers were offering rebar at 2,530-2,545 dirhams ($689-693) per tonne ex-works.
Local demand for rebar was limited during the week, because of a lack of new projects. Rebar deals were made at 2,375-2,475 dirhams per tonne ex-works.
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, exw UAE, was 2,375-2,475 per tonne on March 9, falling from 2,530-2,545 dirhams per tonne on March 2.
*** Rebar imports
Oman sold several cargoes of rebar totalling about 10,000 tonnes to the UAE at $653-667 per tonne cpt UAE during the week, rising from deal prices at $650-664 per tonne cpt heard last week.
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), import, cfr Jebel Ali, UAE, on a theoretical-weight basis, was $653-667 per tonne on Tuesday, rising from $650-664 per tonne on March 2.
*** Gulf billet imports
Oman offered billet at $600-610 per tonne cpt UAE this week, the same price as last week. But no bookings were heard because the price was too high for the buyers, sources said.
Fastmarkets’ weekly price assessment for steel billet, import, cfr Jebel Ali, UAE, was $600-610 per tonne on March 9, rising from $590-600 per tonne on March 2.
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