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26 Feb

UAE traders bargain over March-delivery rebar quotes

United Arab Emirates rebar merchants are negotiating hard with local secondary rebar producers and Oman’s Jindal Shadeed to reduce rebar prices for March delivery by AED 15-20/tonne ($4-5.4) compared to February. This follows last week’s announcement by the benchmark mill of a rollover for March-delivery rebar quotes, Kallanish notes. The market maker maintained its rebar quote at AED 2,735/t ($745) ex-works theoretical weight LC 90 days. Secondary mi…
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