The price level of imported rebar in the UAE market is at around AED 3,150/mt ($858/mt) delivered to site on a theoretical weight basis for 3- and 4-month deferred payment, excluding VAT.
No big change has been seen in the local UAE rebar market this week. However, the rallying import market may cause the local market to gain momentum. While it is heard that some deals were concluded from Turkey this week at the price level of $780/mt CFR on a theoretical weight basis, it is also heard that some producers have not been responding well to firm bids at $780-785/mt CFR on a theoretical weight basis. It has been observed that the Turkish producers' target price levels are $800/mt CFR and above on a theoretical weight basis.