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24 Feb

Emirates Steel reduces rebar amid firming raw materials

Abu Dhabi-based Emirates Steel (ESI) has reduced its rebar price by AED 90/tonne ($25) on-month to AED 2,535/t ($690) ex-works for March deliveries. Market participants’ expectations for the new price had ranged from a steep decline to a rollover from the previous month. The steelmaker chose to bide its time before making the announcement, as Turkish scrap import prices have surged in the last week, taking billet prices up with them. Despite the firming raw…
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