SteelOrbis has been informed that the imported rebar price in the local UAE market currently stands at AED 2,000/mt ($544/mt) delivered to site, on theoretical weight basis, with three-to-four month deferred payment.
The prices for rebar in the local UAE market have started to increase as of the middle of this week. Buyers in the UAE have picked up their purchase speed since they think that prices are likely to go up after the Turkish producers' offers at the levels of $600-610/mt CFR Dubai. Due to production cuts in the global rebar markets and the uptrend in semi-finished prices on the back of scrap price increases, rebar prices have started to go up (starting from the Turkish local market) in the global markets.