Rebar prices in the UAE domestic market are still standing at AED 2,415-2,425/mt ($658-661/mt) delivered, remaining stable since last week. Meanwhile, improved weather conditions and announcements of new construction projects have boosted rebar demand and trading activity in the UAE market, as predicted.
On the import side, Turkish rebar offers to the UAE are unchanged at $590-595/mt CFR on theoretical weight basis. Several ex-Turkey rebar deals have been concluded in the UAE in the past week on the back of improved demand. Accordingly, three Turkish steelmakers have sold 130,000 mt of rebar to the UAE for shipment in June.
$1 = AED 3.67
