The largest steel manufacturer and market leader in the United Arab Emirates (UAE), Emirates Steel Arkan (ESA), announced its rebar price for January production. In light of sustained sales and improved ongoing demand this month, the company has decided to boost prices even further.
As a result, this time the company's official prices for rebar for January production have been announced at $730/mt (AED 2,680/mt) ex-work. Last month, producer’s price stood at $705/mt (AED 2,590/mt) ex-works. Also according to the statement, rebar offers have been increased to $732/mt (AED 2,688/mt) CPT Abu Dhabi and $734/mt (AED 2,695/mt) CPT Dubai, Sharjah and the Northern Emirates, with payment by 90-day letter of credit.