Rebar price in UAE moves downward

The price level of rebar in the local UAE market is at around AED 1,950-1,960/mt ($531-535/mt) delivered to site on a theoretical weight basis for 3- and 5-month deferred payment, excluding VAT. Domestic prices have continued to move downward and local traders are trying to sell their stocks. Although the situation is not encouraging, some trading firms expect the market to be active towards the year-end with the restart of the construction season.