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Emirates Steel cuts rebar prices on weak demand

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Publish time: 26th June, 2013      Source: ChinaCCM
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It's reported that that the UAE's integrated steel mill Emirates Steel announced to cut its rebar prices by AED40/ton from a month ago to AED2,310/ton for July shipments.

It's said that the price cut aimed to close price gap between the Turkish export offers and local prices. Also, it was due to weak global steel market.

Meanwhile, Emirates Steel's rival Conares also cut its rebar prices to AED2,300/ton for July shipments.