Along with the freshly announced rebar prices for December rolling, United Arab Emirates (UAE)-based Emirates Steel Industries (ESI) has issued new offer levels for wire rod for production in the same month.
The producer has increased prices by $15/mt over the past month to $480/mt ex-works, SteelOrbis has learned. According to the sources, along with domestic sales, the producer has been enjoying rather active demand coming from Saudi Arabia. Its latest offers for Saudi Arabia, which are now expected to increase as well, were reported at $495/mt (AED 1,818/mt) CPT.
$1 = AED 3.673.