UAE steel prices soar 12 percent in three weeks

摘要

Reinforcing steel bar (rebar) prices in the United Arab Emirates have risen at least 12 percent in the last three weeks as demand from construction contractors has increased and supply has tightened. A tonne of rebar fetched around S970 on Wednesday, and was around S860 last week of February, traders told newswire Reuters. "Demand for steel is increasing everyday, and many contractors want to meet the deadline for their projects at any cost." one dealer said.