Rebar prices in the UAE have continued to strengthen for February, supported by firm domestic demand and improving market sentiments. While UAE buyers have remained open to import purchases, mainly from Oman and Saudi Arabia, domestic fundamentals have remained the key driver of price momentum across both the retail and import segments. In this environment, the country’s largest steel producer and market leader, Emsteel, has opted to keep its February rebar prices unchanged, considering the current levels sufficient in view of strong local demand and a supportive near-term outlook. Other major domestic mills have likewise maintained stable offers, broadly aligning with the market leader’s stance.
In parallel, import prices have also moved higher over the past month, reflecting the prevailing positive sentiment in the market. According to market sources, Omani rebar offers are currently heard at AED 2,425-2,442/mt ($660-665/mt) CPT on 90-day LC terms, up from AED 2,400-2,425/mt ($653-660/mt) CPT previously. Saudi-origin material is now offered at around AED 2,313-2,350/mt ($630-640/mt) CPT on 90-day LC terms, compared with AED 2,258-2,313/mt ($615-630/mt) CPT in the prior period. However, despite the firmer pricing trend, actual import volumes have remained limited, while uncertainty regarding supply continuity from Saudi Arabia has continued to cap stronger buying momentum.
On the demand side, domestic consumption levels have remained robust. Market estimates place monthly rebar consumption in the UAE at around 500,000-550,000 mt, with January consumption expected to reach approximately 550,000 mt. This sustained level of activity has provided a solid base for the market, allowing retail prices to adjust upwards even as producer prices have remained stable.
As a result, retail rebar prices in the UAE have moved higher over the past month. Emsteel-origin material sold on 90-day LC terms is now reported at AED 2,675-2,700/mt ($728-735/mt) ex-warehouse, compared with AED 2,620-2,650/mt ($713-721/mt) previously. Prices for non-Emsteel domestic material have followed a similar trend, currently heard at AED 2,550-2,555/mt ($694-695/mt) ex-warehouse, up from AED 2,490-2,520/mt ($678-686/mt) in the prior period.
Another domestic producer Arabian Gulf Steel Industries (AGSI) has kept its rebar price unchanged at $645/mt (AED 2,375/mt) ex-works for February, while Qatar Steel has continued to quote rebar at $644/mt (AED 2,365/mt) ex-works, unchanged from January. Although Qatar Steel has not yet officially announced its February price list, market sources expect its pricing to remain broadly stable at current levels.
