SteelOrbis has been informed that the price of Turkish origin rebars in the local Dubai market is standing at the level of AED 2,300-2,400/mt ($626-653/mt) delivered to site on theoretical weight basis, with three-to-four month deferred payment, excluding VAT. Meanwhile, the price of Chinese origin rebars in the same market is at the level of AED 1,900-2,000/mt ($517-544/mt), under the same terms as above.
Rebar prices in the local Dubai market have declined by AED 300-400/mt ($82-109/mt) compared to last week. End-users in the local market have been purchasing only according to their daily needs and have been refraining from buying large tonnages due to the ongoing decreases in price levels.
Meanwhile, it is heard that the Turkish producers have been offering rebars to local traders and end-users at $500/mt CFR Dubai. However, the UAE buyers have been expecting lower price levels compared to the abovementioned. It is even heard that there have been some deals with different tonnages at the price level of $500/mt CFR Dubai.