On July 21, UAE-based Emsteel announced a rollover of its domestic rebar prices for August production, leaving its offers unchanged month on month. According to the company, the decision reflects the stable course of the UAE rebar market, where demand and prevailing price levels remain within normal ranges despite continued pressure from input costs. Market players also state that the tensions surrounding the Strait of Hormuz have so far had no noticeable impact on domestic supply, pricing or purchasing activity, while current offer levels are generally accepted in the market.
Accordingly, Emsteel’s price for 12-32 mm rebar remains at $794/mt (AED 2,917/mt) ex-works. On CPT basis, the company’s August offers stand at $797/mt (AED 2,928/mt) for Abu Dhabi and $800/mt (AED 2,936/mt) for Dubai, Sharjah and the Northern Emirates. The payment terms remain based on 90-day letters of credit.
Other UAE-based producers have yet to disclose their August prices, although their offers are generally expected to remain broadly unchanged in view of the stable conditions prevailing in the domestic market.
$1 = AED 3.672
