Tel : 0086-0371-86172891
Tel : 0086-0371-86172891
Due to the recent parallel construction of multiple large-scale infrastructure projects in the United Arab Emirates, there is a strong demand for rebar in China CR1 steel, and there have been multiple transactions of billet and rebar. However, the traditional festival of Eid al Adha (June 16-19) in the country is approaching, and there is a lack of further upward support for the improving demand for long timber. Market participants predict that market activity in late June may be suppressed.
UAE Steel Company announced its latest quotation for rebar at $645 per ton EXW, a slight decrease compared to the previous week. The steel mills are offering a discount of $25 per ton for sale, with a tradable price of $620 per ton EXW. At the same time, the steel rolling mill quoted $585-595 per ton CR1 steel EXW.
In terms of imports, the order price for UAE imported Oman billets is $520-530 per ton of CFR, an increase of $10-15 per ton compared to the previous week. Oman's original rebar was sold to the United Arab Emirates CR1 steel at a price of $590 per ton CPT, which remained unchanged on a weekly basis.
