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11 Sep

Northern UAE discounted rebar trade spoils retail markets

The United Arab Emirates market maker closed rebar spot sales – the so-called second round of bookings – last week at around AED 2,200/tonne ($599) ex-works for limited volumes, to reach 60-65% of domestic market share. Rebar traders in northern UAE, the Ajman and Sharjah districts, who closed deals with Omani and local mills at and below AED 2,180/t ($594) delivered, are offering rebar in the retail markets at AED 2,210/t against cash. This is spoilin…
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Burak Odabasi  |  Turkey
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