UAE-based steelmaker Emirates Steel Industries (ESI) has announced its new rebar prices. Accordingly, ESI has decreased its rebar prices by AED 81/mt ($22/mt) to AED 2,016/mt ($549/mt) ex-works, as compared to its previous price levels. Market sources state that ESI has reduced its prices more than initial expectations to stimulate its year-end sales.
$1 = AED 3.67