Offers for rebar given by local mills in the UAE domestic market are standing at AED 1,800-1,850/mt ($490-504/mt) ex-works for three-to-four month deferred payments on theoretical weight basis.
On the other hand, due to the ongoing increases seen in raw material prices in the global markets and the demand coming from the Far East, Turkish mills have recently raised their rebar export offers given to this region to the levels of $520-530/mt CFR Dubai on theoretical weight basis. Against the background of rising import offers, local traders in the UAE foresee that domestic prices will increase to the range of AED 1,900-2,000/mt (517-545$/mt) on theoretical weight basis.
US$1 = AED 3.67276