Demand for
rebar in the United Arab Emirates (
UAE) has remained at medium levels during the past week, while
rebar prices have continued their upward trend in the same period. In the current week, Qatari steelmaker Qatar Steel has increased its
rebar offers for May production by QAR 620/mt ($170/mt) compared to its price levels for April production to QAR 2,200/mt ($604/mt) ex-works. This has strengthened the expectations for a sharp hike in the
rebar prices of Emirates Steel Industries (ESI). Meanwhile, Turkish
rebar offers to the
UAE have risen by $30/mt week on week to $510-520/mt CFR, on theoretical weight basis.
$1 = QAR 3.64