You are here: Home > Steel Prices > Steel Price Analyses > Longs and Billet > UAE-based ESA cuts...

UAE-based ESA cuts wire rod prices for April despite better demand

Thursday, 28 March 2024 17:24:02 (GMT+3)   |   Istanbul
       

Emirates Steel Arkan (ESA), the UAE's largest steel producer and market leader, has published domestic wire rod prices for April production. Although trade has remained at good levels in the domestic market, ESA has chosen to lower pricing in response to increased competition, particularly from China.

“The decrease has not been caused by the demand segment, but rather by competition in the market since suppliers other than local producers are offering material at lower levels around $590/mt CFR,” a trader told SteelOrbis.

Accordingly, current offers for wire rod produced by ESA to the domestic market are at $610/mt ex-works (AED 2,240/mt), for April production, whereas the previous official levels were at $650/mt ex-works (AED 2,387/mt) delivered to Dubai.

 While other local wire rod producers such as Qatar Steel FZE and United Steel Industries in the UAE have not yet announced their offers, they are expected to follow the same trend as ESA in the coming days.

$1 = AED 3.672


Similar articles

US import long steel markets creep higher ahead of expected slow US Thanksgiving holiday week

21 Nov | Longs and Billet

US domestic rebar pricing up slightly while wire rod remains steady on week 

21 Nov | Longs and Billet

Longs prices in Romania increase, some interest in ex-Egypt material

21 Nov | Longs and Billet

Asian wire rod prices edge down further despite rises in Chinese futures prices

21 Nov | Longs and Billet

Southern European longs market stable, shutdowns expected

21 Nov | Longs and Billet

Wire rod consumption in Mexico down 10.9 percent in September

21 Nov | Steel News

Japanese crude steel output up 4.6 percent in October from September

21 Nov | Steel News

Turkish mills cut their longs prices once again, prices seem very close to bottom

20 Nov | Longs and Billet

S. Korea’s POSCO shuts down its wire rod mill at Pohang after 45 years

20 Nov | Steel News

Turkey’s Kardemir opens its rebar sales   

20 Nov | Longs and Billet