The price level of imported rebar in the UAE market is at around AED 2,275-2,300/mt ($619-626/mt) delivered to site on a theoretical weight basis for 3- and 5-month deferred payment, excluding VAT.
The UAE domestic rebar market is still not considered to be doing well. The import price level which buyers had their minds set on was $570/mt CFR. However, due to the high scrap prices, high freight costs and some sales to several alternative markets, Turkish producers have not been inclined to reduce their prices. Instead, they have been offering mainly to big buyers at price levels just a little over $590/mt CFR, on a theoretical weight basis.