Domestic rebar prices in UAE move sideways

Tuesday, 30 May 2017 16:25:58 (GMT+3)   |   Istanbul
       

During the past week, domestic rebar prices in the local United Arab Emirates (UAE) rebar market have moved sideways in the range of AED 1,710-1.730/mt ($466-471/mt) delivered to customer.
 
On the other hand, Qatari steelmaker Qatar Steel has kept its rebar offers stable for June production compared to its price levels announced for May at QAR 1,725/mt ($474/mt) ex-works, providing support for a stable price trend in the local UAE rebar market where demand is not expected to revive in the short term due to Ramadan.
 
Having focused on their domestic market due to tightness of supply, Turkish steel mills have not determined a new price level for rebar exports to the UAE and have not given any offers to the country during the past week.
 
$1 = AED 3.67
$1 = QAR 3.64

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