During the past week, domestic
rebar prices in the local United Arab Emirates (
UAE)
rebar market have moved sideways in the range of AED 1,710-1.730/mt ($466-471/mt) delivered to customer.
On the other hand, Qatari steelmaker Qatar Steel has kept its
rebar offers stable for June production compared to its price levels announced for May at QAR 1,725/mt ($474/mt) ex-works, providing support for a stable price trend in the local
UAE rebar market where demand is not expected to revive in the short term due to Ramadan.
Having focused on their domestic market due to tightness of supply, Turkish steel mills have not determined a new price level for
rebar exports to the
UAE and have not given any offers to the country during the past week.
$1 = AED 3.67
$1 = QAR 3.64