The price level of local production rebar in the UAE market is at around AED 3,850/mt ($1,048/mt) ex-works on a theoretical weight basis for cash payment, excluding VAT.
The producer in the UAE has increased its prices due to the rising billet prices. The retail prices in the local market have increased to the level of AED 3,950/mt ($1,076/mt) excluding VAT. Some trading firms are offering rebars at over AED 4,000/mt ($1,089/mt) excluding VAT, following the local producer's price increase.
On the other hand, the latest offers given from Turkey are at $1,030-1,040/mt CFR on theoretical weight basis for June shipment.