Latest rebar prices in the UAE domestic market

In the UAE's domestic market, rebar prices are at AED 2,575-2,590/mt ($702-706/mt) ex-warehouse, on theoretical weight basis.
 
While the UAE-based integrated steel producer Emirates Steel Industries' (ESI) rebar offers to the domestic market are at the level of AED 2,535/mt ($691/mt) ex-works, the producer's new rebar offers for April production to the local market, which will likely be announced this week, are expected to remain unchanged. Moreover, ESI has lately exported rebar to Saudi Arabia and cannot keep up with domestic rebar demand. Accordingly, local buyers are looking for import rebar offers at lower prices.
 
On the other hand, Qatar-based billet and long steel producer Qatar Steel has not changed its rebar prices for April production as compared to March offers and its prices remained at QAR 2,500/mt ($687/mt) ex-works.
 
In addition, SteelOrbis has been informed by market insiders that two rebar transactions from Turkey to Dubai were concluded last week at $670/mt and at $672/mt CFR. Turkish rebar export offers to Dubai are at $675-680/mt CFR, on theoretical weight basis. 
 
$1 =AED 3.67
$1 =QAR 3.64