Prices in the local UAE rebar retail market have been increasing continuously in recent weeks. Having concluded some sales at the price level of AED 2,750-2,800/mt ($749-762/mt) excluding VAT, trading companies in the UAE domestic rebar market are now trying to increase their retail prices to the level of AED 2,850/mt ($776/mt) delivered to site on a theoretical weight basis for 3- and 4-month deferred payment, excluding VAT.
With regard to imports, the Turkish producers' offers were at $720/mt CFR on a theoretical weight basis for late February/early March shipments last week. The producers have started to mention about the price level of $750/mt CFR on a theoretical weight basis.