Rebar market in the UAE

SteelOrbis has heard that a domestic producer is offering rebars in the UAE market at AED 1,900/mt ($517/mt) ex-works, excluding VAT, for January shipments. Meanwhile, the price level of imported rebar in the UAE is at AED 1,900-1,940/mt ($517-528) on a theoretical weight basis for three-, four- and five-month deferred payment, while the domestic price level of rebar is at AED 2,000/mt ($545/mt) on a theoretical weight basis for three-, four- and 5-month deferred payment, excluding VAT. The decrease in the Mediterranean and Middle East has been reflected onto the UAE domestic market. However, the fact that the Turkish domestic market raised its export offers with the improvement in the domestic market may affect the UAE market in the coming period.