GULF STEEL BILLET, REBAR: Prices change, demand weak

Steel billet and rebar prices in the United Arab Emirates had mixed fortunes in the seven days to Tuesday May 19, with demand limited by Ramadan and Covid-19 restrictions, market sources told Fastmarkets.

Market participants in the UAE said that demand was unlikely to improve before the end of Ramadan in late May.
Ramadan is normally a slow month for the region, but the Covid-19 curfews have made trading even slower.

Market sources in the Gulf Co-operation Council (GCC) region said that steel consumption and trade in the region had fallen by more than 50%...

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