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20 Sep

GCC billet market stable, UAE local scrap hikes

The Gulf Cooperation Council billet market is stable. Merchant billet producers and integrated mills are awaiting United Arab Emirates benchmark mill Emirates Steel’s October-rolling rebar price announcement, which also influences the Omani rebar market, notes Kallanish. Despite the export ban, UAE exports of containerised scrap have ramped up, and local scrap quotes have risen by AED 30-50/tonne ($8.1-13.6) on-week. UAE, the region’s second-largest sā€¦
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Burak Odabasi  |  Turkey
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