SteelOrbis has been informed that the predictions of improved demand in the local United Arab Emirates (UAE) rebar market - where demand was slow during Ramadan - after the end-of-Ramadan holiday have not fully materialized, though demand has improved compared to last week. Accordingly, domestic rebar prices in the UAE have increased by AED 20/mt on the lower end to AED 2,320-2,350/mt ($632-640/mt) delivered to customer, excluding 5 percent VAT.
$1 = AED 3.67