Prices move sideways in UAE rebar market

Demand for rebar in the United Arab Emirates (UAE) has remained at medium levels during the past week, while the increases seen in the local UAE spot market have come to a halt, with prices trending sideways during the past week. UAE-based traders' domestic rebar prices have remained stable week on week at AED 2,200-2,300/mt ($599-627/mt) delivered to customer amid the declines seen in global billet quotations and due to the fall recorded in Turkish rebar export prices. 
 
Meanwhile, UAE-based buyers expect Turkish rebar quotations to fall further in the coming days, and so they are in no rush to conclude new rebar deals from Turkey. 
 
$1 = AED 3.67