Despite the stable pricing policy maintained by the UAE’s leading producer Emirates Steel Arkan (Emsteel) for April output, retail rebar prices in the UAE have recorded an upward adjustment over the past week. The increase has been primarily driven by rising input costs, particularly higher energy prices associated with ongoing regional tensions, prompting most retailers to revise their offer levels accordingly. Nevertheless, market activity remains slow, as demand continues to be constrained by the combined impact of the current geopolitical environment and the seasonal slowdown linked to the Ramadan period. In this context, rebar consumption in March is estimated to have declined to approximately 450,000 mt, compared to around 550,000 mt observed in previous months.
In the domestic market, retail rebar prices have continued to move upward in line with rising costs. Emsteel-origin material sold on 90-day LC terms is currently reported at AED 2,825-2,850/mt ($770-776/mt) ex-warehouse, compared to AED 2,700-2,770/mt ($735-755/mt) ex-warehouse in the previous period. Similarly, prices for non-Emsteel domestic material have also increased, now heard at AED 2,700-2,710/mt ($735-738/mt) ex-warehouse, up from AED 2,600-2,655/mt ($707-722/mt) ex-warehouse previously.
At the same time, other domestic producers have followed the upward trend. Arabian Gulf Steel Industries (AGSI) has raised its April rebar price to $730/mt (AED 2,680/mt) ex-works, up from $680/mt (AED 2,500/mt) previously. Meanwhile, Qatar Steel has also revised its price upward to $720/mt (AED 2,644/mt) ex-works, compared to $672/mt (AED 2,470/mt) ex-works in March.
In the import segment, upward price adjustments have also been observed for April, reflecting broader cost pressures across the region. According to market sources, Omani suppliers have revised their rebar offers to AED 2,662/mt ($725/mt) CPT on 90-day LC terms, compared to AED 2,500-2,510/mt ($680-683/mt) CPT previously. Similarly, Saudi Arabian suppliers have implemented sharper increases, with current offers reported at AED 2,717-2,736/mt ($740-745/mt) CPT on 90-day LC terms, up from around AED 2,515/mt ($685/mt) CPT in earlier periods. Despite the recent upward trend, some trading activity was observed in March, primarily involving Saudi-origin material. Market sources indicate that approximately 20,000 mt of rebar was purchased by UAE buyers at around AED 2,515/mt ($685/mt) CPT on 90-day LC terms. However, following the latest increases, current offer levels are widely considered uncompetitive by Emirati buyers, who are adopting a cautious stance and seeking discounts for April bookings.
$1 = AED 3.67
$1 = OMR 0.3845
$1 = SAR 3.75
