Market sources report that, while the UAE-based steelmaker Emirates Steel Industries (ESI) had kept its May production rebar prices stable at AED 2,241/mt ($611/mt) ex-works as compared to its prices for April rolling materials, the producer is expected to announce its June production rebar prices within the current week, with sources predicting that ESI may revise its offers upwards amid improved activity in the country.
Meanwhile, some ex-Turkey deals have been concluded in the UAE in the price range of $575-582/mt CFR for about 75,000 mt of rebar in total for shipment in June, while UAE buyers have been waiting to see local mills' new prices before concluding bookings of import material.