Domestic wire rod prices in the UAE have remained stable over the past month while business activity has been rather modest amid the seasonal construction slowdown. Local producer Emirates Steel Industries (ESI) has kept its mesh grade offers at $530/mt ex-works, with the product being available for September-October production, SteelOrbis understands. However, some buyers report they have receive prices $5-10/mt higher, though for inquiries for small tonnages.
In the import segment, Chinese wire rod is offered to the UAE at $515-520/mt CFR for October shipments, down by around $15/mt compared to July. Ex-Turkey wire rod is indicatively available in the UAE at $520-530/mt CFR for mesh grade. “There is no buyer for imports as there is not enough demand and 10 percent tax for non-GCC origins,” a trader said. In the region, Saudi Arabia’s Hadeed has dropped its domestic offers by $40/mt this week to $560/mt CPT Riyadh.