SteelOrbis has been informed that the price of imported rebar in the UAE market stands at levels of around AED 5,200/mt ($1,416/mt) delivered to site on a theoretical weight basis. The price is excluding VAT and on three to four-month deferred payment basis.
The rebar prices in the local UAE market have been going up due to the upward price trend in the local production price and in the import rebar offers. The offers from Turkey are currently at $1,350/mt CFR on a theoretical weight basis for August shipment. Meanwhile, the offers from China are at $1,180-1,200/mt on a theoretical weight basis. However, there is limited availability of material from the latter source.