SteelOrbis has been informed that the imported rebar price in the local UAE market currently stands at AED 1,800-1,950/mt ($490-531/mt) delivered to site, on theoretical weight basis, with three-to-four month deferred payment.
The bottom prices for rebar in the local UAE market have been maintaining their levels over the last four weeks. If price levels do not see any further decline, this situation may help the market to regain its confidence.