Demand in the local United Arab Emirates (
UAE)
rebar market has increased slightly amid the acceleration of a number of planned projects in the country.
UAE-based producers have kept their
rebar prices for April output at AED 1,695-1,770/mt ($462-482/mt) ex-works, while
UAE-based traders have also kept their higher
rebar prices unchanged week on week at AED 1,775-1,780/mt ($484-485/mt) delivered to customer with the support of improved domestic demand.
Meanwhile, Turkish steel mills'
rebar offers to the
UAE are at $430/mt CFR on theoretical weight basis. Market sources state that
UAE-based buyers consider this price level to be on the high side and are giving firm bids at most at $420/mt CFR on theoretical weight basis. Additionally, SteelOrbis has been informed that
UAE-based buyers are waiting to see local producers'
rebar prices for May output before concluding new import
rebar purchases.
$1 = AED 3.67