The price level of imported rebar in the UAE market is at around AED 2,400/mt ($654/mt) delivered to site on a theoretical weight basis for 3- and 5-month deferred payment, excluding VAT.
Domestic rebar prices seem to be catching up to these levels despite the decrease in import offers. According to reports, some offers being made from Turkey are at $605-610/mt CFR on theoretical weight basis. However, although some Turkish offers are lower than this range, producers decline to confirm this.
CARES-certificated rebar offers ex-China are at $580-585/mt CFR on theoretical weight basis. However, the export tax announced by the Chinese government may cause rebar prices, especially Chinese rebar prices, to increase.