Demand in the local UAE rebar market still at low levels

Tuesday, 29 January 2019 12:17:56 (GMT+3)   |   Istanbul
       

Demand in the local United Arab Emirates (UAE) rebar market has remained at low levels over the past week. Market sources state that higher import scrap and billet quotations have increased UAE-based producers’ costs, but the weakness of demand has prevented any increase in domestic rebar prices. Meanwhile, inventory levels in the UAE rebar market are at high levels. SteelOrbis has been informed that domestic rebar prices in the UAE have remained stable week on week and are still at AED 1,825-1,875/mt ($497-511/mt) delivered to customer.

$1 = AED 3.67


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