The price level of local production rebar in the UAE market is at AED 5,800-5,900/mt ($1,579-1,606/mt) delivered to site on a theoretical weight basis for three-to-four month deferred payment, excluding VAT.
Rebar prices in the local UAE market have increased due to the strong demand and the import deals concluded at high levels. It is observed that it is possible to see the price level of AED 5,400/mt ($1,470/mt) from traders with previously taken positions.
Meanwhile, in their bid to enter the UAE market, the offer price levels for this market of Italian and Spanish producers (with CARES certification), with lower tonnages compared to the Turkish offers, are currently in the range of $1,400-1,440/mt CFR.