UAE achieves stability in steel prices
Despite growing demand, the United Arab Emirates' (
UAE) market saw stable steel and cement prices after their highs of four months ago, industry sources inform.
The steel price in the
UAE market reportedly ranges between AED 1'700-1'800 (approx. $462-490) per ton. The price range indicates a reduction of 10% against levels of four moths ago. Likewise, the price of cement, which is currently AED 257 (approx. $70) per ton, indicates a 15% decline against four months ago.
The prices have stated to decline due to various factors, including import permissions and tax exemptions. Such factors have resulted in a rise in the availability of steel and cement in the local
UAE market. However, these price levels are still the highest in GCC (Gulf Cooperation Council).