Over the past week, demand in the local United Arab Emirates (UAE) rebar market has remained weak and is not expected to accelerate in the short term amid the summer period and seasonal conditions. Meanwhile, having decreased their prices by AED 30/mt in the previous week, traders in the UAE spot market have maintained their offers unchanged in the past week at AED 2,260-2,300/mt ($615-627/mt) delivered to customer, excluding five percent VAT.
$1 = AED 3.67