Rebar market in the UAE

The price level of imported rebar in the UAE market is at around AED 2,350-2,400/mt ($640-654/mt) delivered to site on a theoretical weight basis for 3- and 5-month deferred payment, excluding VAT. Domestic prices are continuing to increase due to the pressure of import prices. Offers from Turkey are currently at around $620-630/mt CFR. According to reports, offers from China have risen from $550-555/mt CFR on a theoretical weight basis to $580-585/mt CFR. The continuous rise of import prices since December 2006 is a source of concern to importers. Most local distributors prefer to limit themselves to essential purchases as opposed to high tonnages.