In the UAE's domestic rebar market, price levels have remained unchanged compared to last week. Domestic rebar offers in the UAE are currently standing at the level of AED 1,780-1,825/mt ($484-497/mt) delivered to site, on theoretical weight basis, with three-to-four month deferred payment. In this market, end-user demand has this week shown no improvement as compared to the previous weeks.
On the other hand, Turkish mills' rebar offers given to this country are hovering in the price range of $440-450/mt CFR UAE. In comparison, rebar bookings were concluded by Turkish producers at levels of $410-430/mt CFR UAE in previous weeks.
US$1 = AED 3.67300