Demand in the local UAE rebar market is still strong, while domestic rebar prices in the market have remained at AED 2,350-2,420/mt ($640-659/mt) delivered to customer, excluding five percent VAT. Meanwhile, UAE-based steel mill Emirates Steel ındustries (ESI) announced its domestic rebar prices today, February 20, at AED 2,340/mt ($638/mt) ex-works excluding five percent VAT, unchanged as compared to price levels issued on January 16. The unchanged domestic rebar prices of ESI are expected to support the continuation of the current sideways movement of spot rebar quotations in the UAE.
$1 = AED 3.67