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24 May

Saudi supply dominates GCC billet market

Imported and local billet prices have softened in United Arab Emirates and Oman amid low regional and global long steel demand. Re-rollers have shifted their procurement focus to Saudi Arabia due to fast delivery and discounted prices, Kallanish notes. This week in UAE, local re-rollers have received regular rebar grade 130/150mm 3sp 9-12-meter-long billet offers from China at $525-535/tonne cfr UAE ports for June shipment, from Saudi Arabia at $515-520/t cpt for …
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