Demand for Steel Pipe in The UAE Is Still Slow Owing to The Approaching Ramadan Period

Demand for steel pipe in the United Arab Emirates is still slow owing to the approaching Ramadan period, which runs throughout August, and the summer holidays. Prices remain unchanged since the second week of July, SBB learns from market sources. In the domestic market, 0.5-4 inch diameter and 2.5-3.8mm wall thickness welded pipe is being priced at $900/tonne by traders, while pipe of the same diameter and 1.2-2mm wall thickness is still offered at $980/t. Prices of galvanized pipe of 2mm wall thickness and above are also unchanged at $1, 025/t, Steel Business Briefing learns. The market is currently slow because of the summer period. Ramadan, a fasting month, typically results in weakened demand for steel pipe. Demand is expected to increase towards the end of August, which will bring an increase in prices in September, local sources say. Source:steelbb.com