SteelOrbis has learned from market sources that local rebar offers in UAE have remained unchanged since last week and are still standing at AED 2,330-2,340/mt ($635-638/mt) delivered to customer.
Market players state that demand in the local market has remained at medium levels while Emirates Steel Industries (ESI) announced today, August 26, that it has kept its rebar prices for September unchanged as compared to its prices for August at AED 2,310/mt ($629/mt) ex-works, although ex-Turkey rebar offers and scrap prices have increased since then.
While rebar offers from Turkey to the UAE are in the range of $595-605/mt CFR, it is heard that Turkish suppliers have sold 45,000 mt of rebar to the UAE in the past week within the price range of $600-603/mt CFR.
$1 = AED 3.67