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