Rebar prices trend sideways in UAE

In this week's UAE domestic market, rebar prices have remained unchanged as compared to last week at AED 2,560-2,575/mt ($697-701/mt) delivered to customer, on theoretical weight basis. In the meantime, rebar demand in the country has showed some strengthening and now is at medium levels.
 
As SteelOrbis previously reported, UAE-based integrated steel producer Emirates Steel Industries (ESI) announced this week that it will keep its rebar prices for May production unchanged as compared to last month at AED 2,535/mt ($690/mt) ex-works on theoretical weight basis.
 
In the meantime, Qatar-based long steel producer Qatar Steel has maintained its rebar prices for May rolling at last month's level of QAR 2,500/mt ($687/mt) for deliveries to the UAE.
 
SteelOrbis has learned from market sources that Turkish rebar offers to Dubai have softened by $10-15/mt as compared to last week to $670-675/mt CFR.
 
$1 = AED 3.673