Turkish origin rebar starts to attract interest in UAE

Local mills in the UAE rebar market have increased their prices by $15/mt to $655-660/mt ex-works for March shipments, after previously keeping their prices stable over a long period.
 
Meanwhile, ex-Turkey rebar offers to the region have decreased by $5-8/mt as compared to last week after failing to attract the attention of buyers and are now at $600-610/mt CFR for shipment in March. Following the decline in prices, Turkish origin rebar has started to attract interest in the UAE market, with rebar deals for a total of 40,000 mt being concluded at the price level of $603-608/mt CFR.
 
On the other hand, ex-CIS billet offers to the UAE stand at $580-590/mt CFR for March shipment.
 
$1 = AED 3.67