On the other side, Turkish rebar offers to the UAE are standing at $585/mt CFR on theoretical weight basis, declining by $10/mt since last week, though buyers have been pushing for $580/mt CFR levels. Increased import buying activity in the country explains why ESI produced below its output capacity level last month.
In the meantime, the volume of Turkish steelmakers' rebar offers has increased ahead of Ramadan, which starts this year in July, while import purchases in the UAE during Ramadan are anticipated to decrease by about 10 percent.
$1 = AED 3.67
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