Turkey's
rebar export offers for the
UAE market have indicated a decline of $20/mt in the past two weeks, with offers now standing at $515-525/mt CFR on theoretical weight basis.
UAE rebar importers had been maintaining a wait-and-see approach for a while, as import scrap prices in
Turkey have continued to decline and this downtrend has exerted pressure on Turkish mills'
rebar export prices. However, having obtaining discounts on Turkish
rebar offers,
UAE buyers have accelerated their import bookings as of this week, while an ex-
Turkey deal has been concluded in the country at the abovementioned price levels.