UAE Steel Mills Cut the Quote of Deformed Steel Bar

UAE rebar producers Emirates Steel (Emirates Steel Industries) has announced rebar (Deformed Steel Bar) prices down 60 dirhams / t ($ 16.33 / t) to 2350 AED / t ($ 640 / t), from May 22 effective date. Another steel mill - Conares Steel also announced a cut the same magnitude, are ex-factory price of 2340 AED / ton. Alam Steel Company executives also said it will also cut steel prices to meet market conditions. (get a steel checkered plate catalog for free)
 
Alam Steel executives said demand for rebar is better for the Gulf States, especially Saudi Arabia. Dubai's new projects on the market a boost. He pointed out that lower prices of scrap and other raw materials as well as global steel prices is the main reason for the lower offer mills. In addition, the Turkish side lower price to the UAE steel mills has certain pressures.