Market sources report that the anticipated revival of domestic rebar demand in the United Arab Emirates (UAE) market after the end-of-Ramadan holiday has not materialized yet. Participants have not yet all returned to the local UAE rebar market after the end-of-Ramadan holdiay. Meanwhile, domestic rebar prices in the UAE have remained stable during the past week at AED 2,300-2,350/mt ($627-640/mt) delivered to customer, excluding five percent VAT.
$1 = AED 3.67