According to market sources, demand and trading activity in the local United Arab Emirates (UAE) rebar market has remained strong over the past week and are not expected to slow down in the short term due to the ongoing projects and preparations for Expo 2020 which will be held in Dubai. Following a downward trend lasting almost one month, prices in the local UAE rebar market have remained stable in the past week at AED 2,050-2,070 /mt ($559-564/mt) delivered to customer. Meanwhile, Turkish mills have made no new rebar offers to the UAE market, since UAE-based buyers prefer to meet their needs from their domestic market amid sufficient supplies.
$1 = AED 3.67