Emsteel, formerly known as Emirates Steel Arkan, the largest local steel producer and market leader in the UAE, has released its domestic rebar prices for October production, keeping its prices stable compared to the previous month since market trading activities have remained solid.
As a result, Emsteel's current offers for rebar for October production have remained stable month on month at $665/mt (AED 2,442/mt) ex-works. Likewise, rebar offers have remained stable at $667/mt (AED 2,450/mt) CPT Abu Dhabi and $669/mt (AED 2,458/mt) CPT Dubai, Sharjah and the Northern Emirates, with 90-day LC payment.
Other local producers have not yet released their prices, though they are expected to follow the same stable trend in the coming days.
$1 = AED 3.67