Offers for rebar given by local traders in the UAE domestic market are standing at AED 1,890-1,920/mt ($515-523/mt) delivered to site for three-to-four month deferred payments on theoretical weight basis. In this market demand is still not at desired levels. End-users are not inclined to purchase at the abovementioned prices, though local traders do not intend to decrease these levels.
On the other hand, Turkish mills' rebar offers given to the UAE are currently in the range of $495/mt CFR on theoretical weight basis, while lower prices may be in question for high tonnages.
US$1 = AED 3.67310