UAE mills increase domestic rebar prices

In the UAE domestic market, local mills have increased their rebar prices in line with higher Turkish export offers.
 
Accordingly, UAE-based steel producer Emirates Steel Industries (ESI) increased its domestic rebar price for September production today, August 14, by AED 40/mt ($11/mt) as compared to this month's price levels to AED 2,465/mt ($671/mt) ex-works. ESI normally announces its rebar prices for the following month at the end of each month or in the first days of the month for which it is issuing the rebar prices. However, since the end-of-Ramadan holiday is approaching, ESI has announced its rebar prices earlier than usual.
 
In the meantime, another UAE-based mill Conares has issued its rebar prices for September rolling, increasing its prices by AED 40/mt ($11/mt) to AED 2,435/mt ($663/mt) ex-works.
 
$1 = AED 3.673