On June 23, Emirates Steel Arkan (ESA), the largest local steel producer and market leader in the United Arab Emirates (UAE), announced its domestic wire rod prices for July production. According to a company notice, pricing has been maintained since business activities have been satisfactory and will continue to be stable under the effect of the Eid holiday.
As a result, the current offers for wire rod produced by ESA to the domestic market have been voiced at $620/mt ex-works, for July shipment which is the same as last month.
While other local wire rod producers such as Qatar Steel FZE and United Steel Company in the UAE have not yet announced their offers, they are expected to follow the same trend as ESA in the coming days.
$1 = AED 3.672