The price level of imported rebar in the UAE market is at around AED 5,500-5,600/mt ($1,497-1,525/mt) delivered to site on a theoretical weight basis for three-to-four month deferred payment, excluding VAT.
The rebar prices in the local UAE market have been maintaining their upward trend. On the other hand, the latest deals concluded from Turkey to the UAE have been at the price level of $1,470-1,480/mt CFR on a theoretical weight basis. Meanwhile, it is heard that the Turkish producers will likely push for price levels of $1,500/mt CFR and above on a theoretical weight basis. The rebar prices of AED 5,500-5,600/mt ($1,497-1,525/mt) in the local Dubai market may increase next week with the latest import deals. It is also currently possible to see price levels for cash payment in the Dubai market which are lower by AED 100-150/mt ($27-41/mt) than the above price range.