Demand in the local United Arab Emirates (UAE) rebar market has remained at good levels for the second consecutive week. Work on construction projects is continuing unabated in the UAE, while preparations for Expo 2020 have accelerated, and so there has been no slackening of domestic demand for rebar.
UAE-based traders’ rebar offers to their domestic market have increased by AED 50/mt week on week to AED 2,150-2,200/mt ($586-599/mt) delivered to customer. Additionally, having showed no interest in Turkish rebar for some time now, UAE-based buyers continue to show the same lack of interest in Turkish imports. As a result, Turkish steel mills have not given any rebar offers to the UAE this week.
$1 = AED 3.67