The price level of imported rebar in the UAE market is at around AED 3,100/mt ($844/mt) delivered to site on a theoretical weight basis for 3- and 4-month deferred payment, excluding VAT.
Due to the improved weather conditions, the UAE domestic rebar market has gained some momentum. Domestic trading firms are targeting the price level of above AED 3,100/mt ($844/mt). On the other hand, the latest deals from Turkey this week have been at the price level of $775-785/mt CFR, on theoretical weight basis. The decline in freight rates, down by $10-15/mt compared to two weeks ago, has been effective in the decision of Turkish producers to accept the CFR price levels in question. However, certain producers are targeting a price of $800/mt CFR, on theoretical weight basis, for April shipments.