SteelOrbis has been informed that the price of imported rebar in the local Dubai market is standing at the level of AED 3,100-3,300/mt ($844-898/mt) delivered to site on theoretical weight basis, with three-to-four month deferred payment, excluding VAT.
Rebar prices in the local Dubai market have remained unchanged compared to last week. The main reason for this is the commencement of Ramadan holidays in the United Arab Emirates. Local traders, who are in expectation that the end-user demand may increase after Ramadan, are currently hesitant to give an exact price level as they believe that the first ten days after the holiday might be determining the future development of market.