According to market sources,
wire rod prices in the local
UAE market have remained unchanged over the past two weeks and are still at $590-600/mt delivered.
In the last week of August,
UAE-based steel producer Emirates Steel Industries (ESI) announced its
wire rod prices at $590/mt ex-works for August production. Additionally, ex-China
wire rod offers to the
UAE are at $505/mt CFR.
Market sources state that transaction activity in the local
UAE market has been on the weak side, while just a few deals for small tonnages have been concluded in the past two weeks. Chinese
wire rod offers are reported to be far lower than local prices in the
UAE market, and so
UAE wire rod buyers prefer to purchase Chinese products.