SteelOrbis has been informed that the imported rebar price in the local UAE market currently stands at AED 1,800-1,900/mt ($490-517/mt) delivered to site, on theoretical weight basis, with three-to-four month deferred payment.
Prices have also this week remained unchanged in the UAE's domestic rebar market as compared to last week, which is the tenth week in row with no price change. While the prices have declined to AED 1,800/mt for cash payment, the prices are at AED 1,900/mt for deferred payment.
Meanwhile, rebar stock levels are currently at considerably low in the UAE. While the local market players in this country indicate that some of the rebar stocks (about 800,000 mt) are either damaged or Chinese origin, they expect that the UAE market will increase their import purchases as of mid-March.