SteelOrbis has been informed that the price of Turkish origin rebars in the local Dubai market is standing at the level of AED 1,900-2,000/mt ($517-545/mt) delivered to site on theoretical weight basis, with three-to-four month deferred payment, excluding VAT. Meanwhile, the price of Chinese origin rebars in the same market is at the level of AED 1,650-1,700/mt ($449-463/mt), under the same terms as above.
Rebar prices in the local Dubai market have declined compared to last week. It is heard that the local traders have been experiencing hard times due to the high stock levels caused by the continual weakening of prices over the last three months.