According to market sources, last week a deal for about 5,200 mt of Chinese
rebar was concluded in the
UAE market at $510/mt CFR, on actual weight basis. The cargo in question has arrived in Jebel Ali port.
At the weekend, another ex-
China deal for 10,000 mt of
rebar was concluded in the
UAE market at the price level of $490/mt, indicating a decrease of $20/mt compared to the previous transaction. The prices are on actual weight basis and for October shipments.
As
UAE buyers do not frequently conclude deals for large volumes of Chinese
rebar due to quality and safety concerns, the increase in the
UAE's imports from
China has been received with surprise in the market. In the meantime,
UAE buyers have started to ask for discounts from Turkish producers for new
rebar deals due to the cheaper Chinese offers.