After the Ramadan holiday,
rebar and
billet demand in the
UAE has remained on the weak side amid slow activity on construction projects.
Rebar inventories in the domestic
UAE market have remained at high levels, while buyers continue to postpone their purchases in expectation of price declines in the short term. In the meantime, ex-
Turkey rebar offers to the country are at $615-625/mt CFR, on theoretical weight basis, while local mills' offers to the domestic market are standing at $660-675/mt ex-works.
On the other hand, although the Ramadan holiday ended a couple of weeks ago,
billet demand in the
UAE market has remained stagnant, contrary to expectations. Meanwhile, ex-
CIS billet offers are at $590-600/mt CFR Jebel Ali, while offers from
Oman to the
UAE are at $610-620/mt CPT Dubai.