According to market sources, prices in the local UAE rebar market have decreased by AED 15/mt ($5/mt) over the past week to the range of AED 1,700-1,720/mt ($463-469/mt) delivered, for August production. Meanwhile, demand for rebar in the UAE market is still at medium levels.
On the other hand, Turkish steel producers’ rebar offers to the UAE market have remained stable over the past week at $410-415/mt CFR on theoretical weight basis for September shipment, while UAE-based buyers’ firm bids in response to Turkish offers are at $405/mt CFR.
$1 = AED 3.67