SteelOrbis has been informed that the imported rebar price in the local UAE market currently stands at AED 1,850-1,950/mt ($504-531/mt) delivered to site, on theoretical weight basis, with three-to-four month deferred payment. Rebar price in the local UAE market cannot be able to trend up. Weak end user demand and unstable price levels in the export offers to the UAE can be shown as the main reasons for the uptrend failure in question. As the Turkish rebar export offers to the UAE had been at $500/mt CFR in recent weeks, the offers in question to the UAE have this week been at $475/mt CFR Dubai.
US$1 = AED 3.67093