SteelOrbis has been informed that the weaker trading activity in the United Arab Emirates’ (UAE) housing market is causing cash flow problems and a slowdown in construction projects. As the projects in question slow down, demand in the local UAE rebar market has also declined and is now at low levels, market sources report. On the other hand, domestic rebar prices in the UAE have remained stable week on week at AED 2,050-2,100/mt ($559-572/mt) delivered to customer.
$1 = AED 3.67