Traders from United Arab Emirates stopped the debar purchase from Turkey

Sep.7 MetalBiz--It is reported that the traders from United Arab Emirates estimated the steel price would drop further, so they stopped to purchase or reduce the debar import from Turkey successively.

Compared with July, the debar price lifted about U.S. $40 per ton and maintained at U.S. $520 per ton. The insiders of the industry believed that the current price of debar could not keep for long time and would drop soon. Due to the expectation on price drops, many traders broke the original import plan. The big traders from United Arab Emirates reduced the import, especially the goods from Turkey, was halved, while the small traders stopped the import fully.  

A sales executive from a construction steel firm in United Arab Emirates revealed that "now the ordering price of debar is at U.S. $510-520 per ton around".

Currently the debar price is firm in the domestic market of United Arab Emirates, which is higher than U.S. $530 per ton. The debar price from Turkey to United Arab Emirates stood at U.S.$515 per ton in the second-week of August, which was less than U.S.$500 per ton before August. The price in July was at U.S. $485 per ton around, which broke U.S. $500 per ton in the first-week of August. The price increase of Turkey products stemmed from the rising of billet price. According to the report, Turkey imported billet price was about U.S. $450-470 per ton. The insiders of the industry estimated that the billet price may slip soon.

Additionally, the structure steel price in United Arab Emirates improved about U.S. $10 per ton from last week, and now the ordering price is at U.S.$600-680 per ton around. 

In addition, the United Arab Emirates structure steel prices than last week about ten dollars per ton increase, order now cost about $600-680 / ton. One week from $63 steel rose to $640 tons/ton. Thereinto, the steel beam price climbed from last week's U.S. $630 per ton to U.S.$640 per ton.