Emsteel, the largest steel producer and market leader in the United Arab Emirates (UAE), has decided to keep its domestic rebar prices stable for April production. The company’s decision to maintain stable prices reflects the slight softening in demand caused by Ramadan and the associated slowdown in construction activity and purchases, which has limited overall trading volumes. At the same time, increasing regional tensions have added further uncertainty to the market, weighing on sentiment and discouraging buyers from taking new positions. As a result, consumption levels have declined in March, with demand estimated at around 450,000 mt, compared to approximately 550,000 mt in previous months, while a clearer demand outlook is expected to emerge after the holiday period.
For April output, the company has set its prices for 12-32 mm rebar at $740/mt (AED 2,717/mt) ex-works. On CPT basis, Emsteel’s offers stand at $743/mt (AED 2,728/mt) for Abu Dhabi and $745/mt (AED 2,736/mt) for Dubai, Sharjah and the Northern Emirates, with payment terms based on 90-day letters of credit (LC).
Other UAE-based producers have yet to announce their April prices, though they are widely expected to align their offers with Emsteel’s benchmark levels, as seen in previous months.
$1 = AED 3.672