Rebar price level in UAE

SteelOrbis has been reported that price level of rebar in the local United Arab Emirates market is at around AED 2,150/mt (approx. $585/mt) on theoretical weight basis, excluding VAT. Prices in the local market indicate a slight decline. The latest bookings concluded from Turkey are below $530/mt CFR levels on theoretical weight basis. Certain importers think that prices will decline further; however, strong Turkish local market and the return of Europeans to the market may render these expectations abortive.