During the past week, demand in the United Arab Emirates (UAE) rebar market has remained at low levels, while UAE-based traders' rebar prices for their domestic market have moved sideways in the range of AED 1,850-1,900/mt ($504-518/mt) delivered to customer.
Additionally, low-priced rebar offers from Oman to the UAE have been heard this week. If Omani exporters continue to offer low-priced rebar to the country supply is foreseen to rise and put pressure on domestic rebar quotations in the UAE.
$1 = AED 3.67