It is observed that positive sentiment continues to prevail in the local United Arab Emirates (UAE) rebar market as demand remains strong. While Expo 2020 planned to be held in Dubai positively influences demand in the local UAE rebar market, no decline in demand is expected in the short term due to ongoing infrastructure and construction projects. Domestic rebar prices in the UAE have increased by AED 20/mt on the lower end week on week to AED 2,370-2,400/mt ($646-654/mt) delivered to customer, excluding five percent VAT.
$1 = AED 3.67