Emirates Steel Arkan (ESA), the largest local steel producer and market leader in the United Arab Emirates (UAE), has announced its domestic wire rod prices for September production. As a result of improvements in local business activities, the company has decided to increase prices for wire rods.
According to the company’s statement, its wire rod prices have risen by $20/mt from the previous month to $640/mt ex-works (AED 2,350/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