The price level of imported rebar in the UAE market is at around AED 2,300-2,350/mt ($626-640/mt) delivered to site on a theoretical weight basis for 3- and 5-month deferred payment, excluding VAT.
Although domestic rebar prices have decreased slightly, prices are resisting at AED 2,300/mt ($626/mt) level. The latest bookings for Turkish origin rebar are at $575-580/mt CFR on theoretical weight basis for August shipments. Customers are seeking lower price levels for late August/September shipments. However, Turkish producers consider that after the decline in scrap and in billet prices comes to an end, the decrease in long prices may follow the same trend and also come to a halt.