Ex-Turkey rebar offer prices to Dubai increase

Approaching the end of Ramadan, rebar demand coming from the Middle East and offers given to the region have increased in volume. More particularly, buyers in the region have already started negotiations with steel producers to conclude bookings in larger tonnages for September shipments.
 
The positive mood in the market has also been reflected in rebar offers given to the UAE market. Turkish mills' rebar offers to Dubai, which were at $625-630/mt CFR on theoretical weight basis, have risen to $640-645/mt CFR on theoretical weight basis, in line with increases seen in the Turkish domestic rebar market.
 
Rebar demand in the UAE market is expected to improve after the silence during Ramadan, and the UAE is then forecast to be more active in the global rebar market in the coming period with new import bookings.