22
May
15:39
Emirates Steel simplifies domestic pricing policy
Emirates Steel (ESI), the largest producer in the United Arab Emirates, has decided to change its domestic rebar pricing policy from June.
It will abolish spot sales prices and introduce a single net price. It will add spot sales quantities, limited to 30-35% of total monthly withdrawals, to the pre-agreed volumes in memorandums of understanding with customers. This is expected to bring transparency, simplicity and relevance to the market, notes Kallanish.
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Very good overview of the weekly steel market.
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