Emsteel, the largest steel producer and market leader in the United Arab Emirates (UAE), has increased its domestic rebar prices for July production, as pressure from steel input costs and supply chains continues to affect pricing decisions across the region. While cost-side challenges are still observed, the producer has continued to follow a controlled pricing approach, reflecting only part of the higher cost burden in its new price levels in order to preserve stability in the local market. On the demand side, market players state that business activity in the UAE rebar market remains relatively healthy, supported by ongoing construction activity and project-related consumption. However, with the summer season becoming more evident, the overall pace of business has started to slow compared to the stronger activity observed in previous months.
For July output, the company has raised its prices for 12-32 mm rebar by AED 100/mt, setting its new ex-works level at $794/mt (AED 2,917/mt), compared to $767/mt (AED 2,817/mt) ex-works in June. On CPT basis, Emsteel’s offers stand at $797/mt (AED 2,928/mt) for Abu Dhabi and $800/mt (AED 2,936/mt) for Dubai, Sharjah and the Northern Emirates, with payment terms based on 90-day letters of credit (LC).
Meanwhile, other UAE-based producers have not yet announced their July prices, although similar revisions are expected in the coming period following Emsteel’s latest move.
$1 = AED 3.672
