Meanwhile, no new ex-Turkey rebar deal has been heard in the UAE market after the transaction concluded approximately two weeks ago for around 85,000 mt rebar at $450/mt CFR, on theoretical weight basis. With the completion of their sales for March shipments, UAE-based market traders and stockists believe that it is too early to conclude new purchases for shipments at the end of April. Market sources think that inquiries have been quiet for Turkish rebar during the past week. New Turkish rebar offers to the country are expected to become clearer within a couple of weeks, while market sources believe new deals are unlikely to be heard until the last moment as market players will likely wait as long as possible due to the soft trend of the market.
$1 = AED 3.67