Demand in the local United Arab Emirates (
UAE)
rebar market has remained at decent levels during the past week. Some
UAE-based
rebar producers whose inventory levels are on the high side have continued to offer
rebar to their domestic market at AED 1,695-1,710/mt ($462-466/mt) ex-works. As a result,
UAE-based traders have kept their domestic
rebar quotations unchanged week on week at AED 1,820/mt ($496/mt) delivered to customer, despite lively trading activity.
On the other hand, Turkish steel mills have still not determined a price strategy for the
UAE due to the ongoing sluggish demand for Turkish
rebar. Accordingly, no new Turkish
rebar offer has been heard in the country.
$1 = AED 3.67