The price level of Turkish origin imported rebar in the UAE market is at AED 5,300-5,600/mt ($1,443-1,524/mt), whereas the price level of Chinese origin imported rebar in the same market is at AED 4,900-5,000/mt ($1,332-1,361/mt), delivered to site on a theoretical weight basis for three-to-four month deferred payment, excluding VAT. The material in question is with CARES certification.
It is reported that the supply level is high in the UAE market despite the approach of Ramadan. Local traders comment that there may be some trouble with demand during Ramadan; however it is not expected to affect the market that much. They also mention that the slight softening in rebar prices should be considered as normal in this period. There have been a lot of rebar offers to Dubai not only from Turkey and China, but also from Ukraine, Spain and South Korea.