Emsteel, the largest local steel producer and a market leader in the United Arab Emirates (UAE), has announced an upward revision in its domestic rebar prices for November production. According to reports, the company’s latest price adjustment reflects the continued strength of market demand and the sustained stability of construction activity across the region.
For November output, Emsteel has increased the price of its 12-32 mm rebar by $16/mt, bringing the new level to $680/mt (AED 2,500/mt) ex-works. In addition, the company’s rebar offers have been adjusted to $683/mt (AED 2,508/mt) on CPT basis for Abu Dhabi and to $685/mt (AED 2,515/mt) CPT for Dubai, Sharjah, and the Northern Emirates with 90-day letter of credit (LC) payment.
Meanwhile, other local rebar producers in the UAE have not yet announced their updated prices, but they are expected to adjust their prices in line with Emsteel’s revised levels.
$1 = AED 3.672