Emsteel, the largest steel producer and market leader in the United Arab Emirates (UAE), has increased its domestic rebar prices for March production, signaling a firmer pricing stance amid stable market conditions and a cautiously improving outlook. The adjustment follows a period of relative price stability during the current month, supported by balanced demand and generally positive expectations in the local construction sector.
For March output, the company has raised its prices for 12-32 mm rebar by $20/mt, setting its new ex-works level at $740/mt (AED 2,717/mt), compared to $720/mt (AED 2,644/mt) ex-works in February. On CPT basis, Emsteel’s offers stand at $743/mt (AED 2,728/mt) for Abu Dhabi and $745/mt (AED 2,736/mt) for Dubai, Sharjah and the Northern Emirates, with payment terms based on 90-day letters of credit (LC).
Other domestic rebar producers in the UAE have not yet released their updated price lists, though market participants expect them to revise their offers broadly in line with Emsteel’s new levels in the coming period.
$1 = AED 3.672
