A rebar producer in the United Arab Emirates has booked large volumes of ex-China billet. Kallanish confirms that a buyer recently secured three lots of ECAS-certified ex-China 150mm 3sp billet, each parcel amounting to 50,000 tonnes. The prices range from $465 to $472 per tonne cfr (liner out) for shipment in March and April. By Wednesday, ex-Indonesia prices for 150mm 3sp were at $475 per tonne and ex-China at $475-477 per tonne, both cfr Jebel Ali, Abu Dhabi or Hamriyah ports (LO) for April shipment.
Omani and Qatari suppliers have lowered their offers to $500 per tonne delivered for 130/150mm 3sp billet, down from $505 per tonne delivered to buyers in the UAE in previous rounds of deals, targeting prompt shipments. The Omani major has a limited allocation of 5,000-7,000 tonnes for March shipment and is targeting $500 per tonne cpt UAE.
Meanwhile, a buyer in Oman has booked nearly 10,000 tonnes of special grade billet at $463-465 per tonne delivered to its yard. The origin of the billet could not be verified before the deadline.
In the UAE, the benchmark mill has issued its scrap orders at AED 50-70 per tonne ($13.6-19) below market transaction prices. Its end-cut buying price is at AED 1,210 per tonne and PNS at AED 1,150-1,170 per tonne. Market transaction delivered scrap prices, which exclude 5% VAT, are as follows: AED 900-950 per tonne for mixed LMS, AED 1,030-1,050 per tonne for pure LMS, AED 1,125-1,135 per tonne for HMS 80:20, AED 1,175-1,180 per tonne for HMS 90:10 (so-called HMS Super), AED 1,185 per tonne for HMS sheared (so-called HMS processed), AED 1,225 per tonne for PNS, AED 1,220-1,240 per tonne for fabrication, and AED 1,290 per tonne for end-cut D-bar.
