The local United Arab Emirates (UAE) rebar market has not been impacted by the uncertainties in the global steel market, while domestic rebar prices in the UAE have increased by AED 30/mt on the lower end and by AED 10/mt on the upper end week on week to AED 2,350-2,390/mt ($640-651/mt) delivered to customer, excluding five percent VAT. Market sources state that the better weather conditions as well as the ongoing projects in the UAE have been the main reasons for the rises seen in demand which have resulted in the increasing trend of domestic rebar prices.
$1 = AED 3.67