In the
UAE domestic market, local mills have increased their
rebar prices in line with higher Turkish export offers.
Accordingly,
UAE-based steel producer Emirates Steel Industries (
ESI) increased its domestic
rebar price for September production today, August 14, by AED 40/mt ($11/mt) as compared to this month's price levels to AED 2,465/mt ($671/mt) ex-works.
ESI normally announces its
rebar prices for the following month at the end of each month or in the first days of the month for which it is issuing the
rebar prices. However, since the end-of-Ramadan holiday is approaching,
ESI has announced its
rebar prices earlier than usual.
In the meantime, another
UAE-based mill Conares has issued its
rebar prices for September rolling, increasing its prices by AED 40/mt ($11/mt) to AED 2,435/mt ($663/mt) ex-works.
$1 = AED 3.673