SteelOrbis has been informed that the imported rebar price in the local UAE market varies in a range of AED 5,600-5,800/mt ($1,525-1,579/mt) delivered to site, on theoretical weight basis, with three to four month deferred payment.
The prices for rebar in the local Dubai market have maintained their flatness. It is heard that all construction projects are continuing despite the considerably hot weather conditions. In addition, no slowness is expected to be registered during Ramadan. It is reported that the abovementioned price can be reduced to AED 5,500/mt ($1,497/mt) for cash payments and that all order books are fulfilled until the end of September. It is expected that rebar traders from Dubai will likely start their October purchases within the current month.