Prices in local UAE rebar market remain stable

Tuesday, 21 March 2017 15:04:03 (GMT+3)   |   Istanbul
       

Demand in the local United Arab Emirates (UAE) rebar market has remained at decent levels during the past week. Some UAE-based rebar producers whose inventory levels are on the high side have continued to offer rebar to their domestic market at AED 1,695-1,710/mt ($462-466/mt) ex-works. As a result, UAE-based traders have kept their domestic rebar quotations unchanged week on week at AED 1,820/mt ($496/mt) delivered to customer, despite lively trading activity.
 
On the other hand, Turkish steel mills have still not determined a price strategy for the UAE due to the ongoing sluggish demand for Turkish rebar. Accordingly, no new Turkish rebar offer has been heard in the country.
 
$1 = AED 3.67
 

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