Posted on 13 Feb 2025
Large volumes of ex-China billet have been booked by a rebar producer in the United Arab Emirates.
Kallanish confirms that a buyer booked a short time ago three lots of ECAS-certified ex-China 150mm 3sp billet, each a parcel of 50,000 tonnes. Prices range from $465 to $472/tonne cfr (liner out), for shipment in March and April. By Wednesday, ex-Indonesia prices for 150mm 3sp were at $475/t and ex-China at $475-477/t, both cfr Jebel Ali, Abu Dhabi or Hamriyah ports (LO) for April shipment.
Omani and Qatari suppliers lowered their offers to $500/t delivered for 130/150mm 3sp billet, down from $505/t delivered to buyers in the UAE in the previous rounds of deals. These are for prompt shipments.
The Omani major has a limited allocation of 5,000-7,000t for March shipment and is targeting $500/t cpt UAE.
Meanwhile, a buyer in Oman has booked nearly 10,000t of special grade billet at $463-465/t delivered to its yard. The origin could not be verified before deadline.
In the UAE, the benchmark mill has issued its scrap orders at AED 50-70/t ($13.6-19) below market transaction prices. Its end-cut buying price is at AED 1,210/t and PNS at AED 1,150-1,170/t. On the other hand, market transaction delivered scrap prices, which exclude 5% VAT, are as follows:
- AED 900-950/t for mixed LMS
- AED 1,030-1,050/t pure LMS
- AED 1,125-1,135/t for HMS 80:20
- AED 1,175-1,180/t for HMS 90:10 – so called HMS Super
- AED 1,185/t for HMS sheared – so called HMS processed
- AED 1,225/t for PNS
- AED 1,220-1,240/t for fabrication
- AED 1,290/t for end-cut D-bar
Source:Kallanish
