Over the past week, prices in the local United Arab Emirates (UAE) rebar market have remained stable week on week at AED 2,150-2,200/mt ($586-600/mt) delivered to customer. Meanwhile, as of today, September 12, UAE-based steelmakers Conares and Emirates Steel have increased their rebar prices for domestic market to AED 2,186/mt and $AED 2,205/mt, respectively, both ex-works and for October output. Following the uptrend of producer prices, UAE-based traders are also expected to revise their prices upwards.
Despite the uptrend of domestic rebar prices in the UAE, Turkish mills’ rebar offers to the country are on the rise. Therefore, UAE-based buyers consider Turkish rebar offers to be on the high side and prefer to meet their needs from their domestic market, where rebar supplies are at decent level.
$1 = AED 3.67