Rebar prices in the UAE domestic market are standing at AED 2,415-2,425/mt ($658-661/mt) delivered, declining by AED 10/mt ($3/mt) since last week. However, purchasing activity will likely register improvements in the coming days amid implementation of new construction projects in line with improved weather conditions. Meanwhile, the anticipated increase in buying activity is also expected to push up local and import rebar prices.
On the import side, Turkish rebar offers to the UAE have declined by $5-10/mt over the past week to $590-595/mt CFR on theoretical weight basis, while rebar transactions totaling 40,000 mt have been concluded this week at these price levels for late May shipments.
$1 = AED 3.67
