22
May
15:20
UAE rebar market awaits June prices, expects drop
The United Arab Emirates rebar market is awaiting benchmark mill Emirates Steel Arkan (ESA)'s June-rolling rebar price announcement. There is an overwhelming consensus on a reduction versus May, but the degree of drop is up for debate.
Because domestic demand is healthy, traders assume the reduction will be limited to $30-35/tonne on-month. ESA will announce its new prices the latest by Wednesday.
Rebar sales in the secondary market touched nearly 180,00…
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Anonymous
Very good overview of the weekly steel market.
Anonymous