Offers for rebar given by local mills in the UAE domestic market are standing at AED 1,850-1,950/mt ($503-530/mt) delivered to site for three-to-four month deferred payments on theoretical weight basis. It is said that trading activties in this market have been trending slow, due to the approach of Ramadan.
On the other hand, Turkish mills' rebar offers given to the UAE have continued to stand in the range of $520-530/mt CFR Dubai on theoretical weight basis, showing no change as compared to last week.
US$1 = AED 3.67958