Market sources report that UAE-based steelmaker Conares has increased its rebar prices by AED 225/mt ($61/mt) for July production to AED 1,875/mt ($511/mt) CPT, as compared to prices for May output materials, which were announced on April 12 at AED 1,650/mt ($416/mt) CPT. Market sources state that the producer has already completed its sales for May and June output and so without delay it decided to increase its rebar prices further.
$1 = AED 3.67