The price level of local production rebar in the UAE market is at AED 5,300-5,600/mt ($1,443-1,524/mt) delivered to site on a theoretical weight basis for three-to-four month deferred payment, excluding VAT.
It is reported that the local traders may decrease their import speed due to the high stock levels in the local UAE rebar market. The local traders, which have been making large tonnage purchases from international traders with previously taken positions, are not currently accepting Turkish producers' offers at $1,550/mt CFR.
Meanwhile, the rebar price levels in the UAE may register a decrease as there have been a lot of offers at different price levels from Spain, Japan, South Korea, China and Ukraine. The local traders emphasize that the low priced imports may reduce the price levels in the lively UAE market. They also underline that the market should not turn to cheap material in these days when stock levels are high. The rebar price levels are at AED 5,500-5,600/mt ($1,497-1,524/mt) from big traders, with the same material at AED 5,300/mt ($1,597/mt) from small traders.