The price level of imported rebar in the UAE market is at AED 2,300-2,350/mt ($626-640/mt) delivered to site on a theoretical weight basis for 3- and 5-month deferred payment, excluding VAT.
The price levels in the UAE domestic rebar market, where demand is currently not very strong, have decreased slightly. On the import side, Turkey is seen as the main supplier at the moment as the price level in the Far East Asian market is very high. The lowest deal, concluded for October delivery, was slightly below $590/mt CFR.
While buyers have been insisting on lower price levels, producers have been resisting since no downward movement has been seen in raw material costs.