Demand still at medium levels in UAE rebar market

Demand in the local United Arab Emirates (UAE) rebar market has remained at medium levels during the past week. Although UAE-based producers' rebar prices are still at AED 1,525/mt ($416/mt) CPT ex-works, market players are expecting domestic mills to raise their rebar prices in the coming month. There has been a limited number of sales to the UAE from Turkey due to the gradual uptrend seen in Turkish rebar offers throughout March, while in the same period Turkish producers have sold a total of 22,000 mt of rebar to the UAE in the range of $395-400/mt CFR, on theoretical weight basis. Meanwhile, UAE-based traders' domestic rebar prices have remained unchanged week on week in the range of AED 1,600-1,620/mt ($436-441/mt) delivered to customer, for March delivery.
 
$1 = AED 3.67