UAE-based steelmaker Emirates Steel Industries (ESI) has announced its rebar prices for June-July production. Accordingly, ESI has increased its rebar price by AED 78/mt ($22/mt) to AED 1,775/mt ($484/mt) ex-works for June-July production, as compared to its previous price for May output materials.
On the other hand, market sources mention that the increase in ESI's rebar prices is higher than initially foreseen, supported by expectations of Qatar leaving the UAE market due to the diplomatic crisis which erupted yesterday, June 5.
$1 = AED 3.67