UAE: Emirates Steel likely to lower rebar offers by $65/t, m-o-m, for July sales

Emirates Steel, one of the UAE’s leading steel producers, is likely to lower rebar offers by around $65/t (AED 239/t) m-o-m for July deliveries, sources informed SteelMint. The revised offer stands at $685/t exw (AED 2,516/t) compared to $750/t (AED 2,755/t) exw last month. Slow demand and falling global steel prices have resulted in lowering of offers by the company.