During the past week, domestic rebar prices in the United Arab Emirates (UAE) have increased by AED 25/mt on the lower end and by AED 20/mt on the upper end to AED 2,375-2,420/mt ($647-659/mt) delivered to customer, excluding five percent VAT.
Having increased in parallel with demand as of last week, the higher domestic rebar prices in the UAE have gained acceptance from buyers, also influenced by the rises made by UAE-based producers at the beginning of April. Accordingly, demand in the local UAE rebar market has remained at good levels, while it is believed that domestic rebar prices in the country have the potential to increase further in the coming days.
$1 = AED 3.67