SteelOrbis has been informed that the price of local production rebar in the UAE market stands at the level of AED 4,890/mt ($1,331/mt) ex-works on a theoretical weight basis. The price is excluding VAT and on cash payment basis.
The uptrend in the import billet and rebar prices have led the local steelmakers to sharply raise their prices. At the beginning of this week, the sales price of import rebar in the local UAE market stood in a range of AED 4,600-4,700/mt ($1,252-1,279/mt) on a theoretical weight basis. However, after the increases in question, sharp rises may be seen in the retail market.