Following the recent price adjustment announced by the UAE’s leading domestic rebar producer Emsteel, local retailers have also revised their prices upward, reflecting both the influence of major producers and strengthening market fundamentals. Demand has been steadily increasing, supported by the ongoing progress of construction projects across the country and the favorable winter season, allowing work to continue faster without major weather disruptions. According to market assessments, rebar consumption in October has been estimated at around 400,000 mt, broadly consistent with the previous month’s levels, highlighting the continued strength and stability of domestic demand.
As a result, for Emsteel-origin material with 90-day letters of credit, retailers’ workable price levels in the UAE have increased to AED 2,600-2,620/mt ($707-713/mt) ex-warehouse, compared with AED 2,520-2,560/mt ($686-697/mt) ex-warehouse in the previous month.
Similarly, offers for non-Emsteel material have shown an upward movement, now standing at AED 2,500-2,520/mt ($680-685/mt) ex-warehouse, up from AED 2,400-2,420/mt ($653-658/mt) ex-warehouse previously.
On the secondary mills' side, a comparable trend has been observed. Arabian Gulf Steel Industries (AGSI) increased its offers to $645/mt (AED 2,370/mt) ex-works, up from $630-637/mt (AED 2,320-2,340/mt) in the previous month. Qatar Steel also adjusted its offer slightly higher to $642/mt (AED 2,360/mt) ex-works, compared with $630-637/mt (AED 2,320-2,340/mt) earlier.
Meanwhile, a similar upward trend has been reported among Omani suppliers, driven by increased trading activity and improving regional confidence, which has resulted in further price firming. According to market sources, rebar offers to the UAE are now being submitted at AED 2,450/mt ($667/mt) CPT for 90-day letters of credit, up from AED 2,295/mt ($625/mt) CPT previously.
$1 = AED 3.67
$1 = OMR 0.3845