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02 May

GCC billet demand declines over rebar sales forecasts

Billet demand in Oman and the United Arab Emirates has fallen in line with sliding bids, to $515-525/tonne ex-works, from $525-535/t ex-works a week ago. Kallanish observes that due to lower rebar sales forecasts in the UAE domestic market in May, buyers are postponing their buying decisions or halving their regular monthly billet purchase volumes. In Oman, unsolicited ex-Iran 3sp billet was offered at $510/t landed to the buyer's yard for June delivery. …
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