Demand for
rebar in the United Arab Emirates (UAE) has remained at medium levels during the past week, while the increases seen in the local UAE spot market have come to a halt, with prices trending sideways during the past week. UAE-based traders' domestic
rebar prices have remained stable week on week at AED 2,200-2,300/mt ($599-627/mt) delivered to customer amid the declines seen in global billet quotations and due to the fall recorded in Turkish
rebar export prices.
Meanwhile, UAE-based buyers expect Turkish
rebar quotations to fall further in the coming days, and so they are in no rush to conclude new
rebar deals from
Turkey.
$1 = AED 3.67