The price level of Turkish origin imported rebar in the UAE market is at AED 4,800-5,200/mt ($1,307-1,416/mt) delivered to site on a theoretical weight basis for three-to-four month deferred payment, excluding VAT.
The rebar price levels in the UAE market have sometimes been showing decreasing trends due to oversupply and the approach of Ramadan. Although local traders in the UAE domestic market are receiving offers from countries such as China, Turkey, Ukraine and Spain, they have slowed their purchase activities, mainly on account of their high stock levels. The local traders are uncomfortable with the prospect of a possible price decrease in the local market, which could be sparked by oversupply and offers of low-priced Chinese material. So far the traders have not received their September orders, and they agree that deals concluded at low price levels are not healthy for the price stability in the local UAE market.