According to market sources,
rebar prices in the local
UAE market have moved down by AED 20/mt ($5/mt) since last week, with prices now standing at AED 2,250-2,260/mt ($613-616/mt) delivered. Market players indicate that lower levels of transaction prices for imported
rebar purchases have dragged local prices downward.
Meanwhile, the latest ex-
Turkey rebar deals have been concluded at $570-580/mt CFR on theoretical weight basis in the country, while two Turkish mills have sold 105,000 mt of
rebar in total to the
UAE at these price levels for shipments in late February and in March. Current Turkish
rebar offers to the
UAE for end of March shipments stand at $570/mt CFR, though buyers have started to push for lower prices.
$1 = AED 3.67