According to market sources, prices in the local UAE rebar market have remained stable during the past week in the range of AED 1,450-1,460/mt ($395-395/mt) delivered, for December production. Market sources state that demand for domestic rebar is still strong in the UAE amid both ongoing and new activity on small and medium-scale infrastructure and construction projects.
On the other hand, no rebar offers from Turkish producers to the UAE market have been heard this week. However, Turkish producers are expected to issue rebar offers at new price levels which will enable them to compete with UAE-based producers’ prices in the New Year.
$1 = AED 3.67