According to market sources, rebar prices in the local UAE market have moved on a stable trend since last week, with prices still standing at AED 2,280-2,300/mt ($621-627/mt) delivered. Meanwhile, purchasing activity for rebar is strong, while demand has improved over the past week.
On the other hand, ex-Turkey rebar offers for the UAE stand at $580-585/mt CFR on theoretical weight basis, while demand for import materials is on the high side. In addition, market sources report that an Izmir-based Turkish steelmaker will likely conclude a new rebar deal for February shipment to the UAE market in the coming days.
$1 = AED 3.67
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