Demand in the local United Arab Emirates (UAE) rebar market has remained at low levels during the past week, while it is not expected to improve due to the approaching Feast of Sacrifice holiday. UAE-based traders have reduced their domestic rebar offers by AED 10/mt on the lower end and by AED 20/mt on the upper end week on week to AED 2,200-2,220/mt ($599-605/mt) delivered to customer, excluding five percent VAT.
$1 = AED 3.67