Tel : 0086-0371-86172891
Tel : 0086-0371-86172891
Recently, many Muslim countries such as Egypt and the United Arab Emirates A1008 Grade 25(170) steel are about to celebrate Eid al Adha (June 16-19), and many market participants are preparing for the holiday, resulting in a slowdown in market trading activities.
As far as we know, the Egyptian A1008 Grade 25(170) steel market will have a holiday of about 10 days starting from this Friday, and demand will continue to be weak. Some local traders have reported that they are currently in a wait-and-see state for the future market. Currently, the price of threaded steel in the Egyptian long rod market is around 659-745 US dollars per ton. Compared to the price of 650-756 US dollars per ton in early June, the overall fluctuation is not significant, mainly due to changes in relevant currency exchange rates.
The slowdown in trading activity in the UAE market is not only affected by the approaching holiday, but also due to the hot summer weather. Every summer is full of challenges for the long timber market in the UAE, due to the hot weather and limited construction time on construction sites. The current UAE thread price is around $615-637 per ton A1008 Grade 25(170) steel.
