Demand in the local United Arab Emirates (
UAE)
rebar market has remained stable over the past week at medium levels. Buyers in the
UAE market have mostly completed their
rebar purchases for February shipment.
UAE-based steel producers'
rebar prices have remained unchanged during the past week in the range of AED 1,385-1,400/mt ($377-381/mt) ex-works, while volume discounts are still available, depending on buyer and tonnage. On the other hand, Turkish
rebar offers to the
UAE are at $330-333/mt CFR and Omani
rebar offers to the same destination are at AED 1,370/mt ($373/mt) CFR.
$1 = AED 3.67