In the United Arab Emirates (UAE), Emirates Steel Arkan (ESA), the largest local steel producer and market leader, has announced its domestic wire rod prices for August production. According to a company announcement, pricing has been rolled over for another month in light of the continuing stabilization of business activities and demand.
As a result, ESA's current offers for wire rods for August production have remained stable month on month at $620/mt ex-works (AED 2,276/mt).
While other local wire rod producers such as Qatar Steel FZE and United Steel Company in the UAE have not yet announced their offers, they are expected to follow the same trend as ESA in the coming days.
$1 = AED 3.672