The price level of imported rebar in the UAE market is at around AED 2,350/mt ($639/mt) delivered to site on a theoretical weight basis for 3- and 5-month deferred payment, excluding VAT.
There was a slight decline in the imported rebar prices last week. The players in the local market believe that the prices will decline further. The price levels quoted for Turkish origin rebars are at $590-600/mt CFR on theoretical weight basis. On the other hand, Chinese prices are completely out of the market after the export duty.