On January 23, the largest steel producer and the market leader in the United Arab Emirates (UAE), Emsteel, announced its rebar prices for February production. According to the release, since demand has remained firm throughout the last month, the company has decided to keep its offers stable.
As a result, the current offers for rebar produced by Emsteel to the domestic market have been voiced at $722/mt ex-works, for February production, which is the same as last month. Furthermore, offers have remained the same for Abu Dhabi at $724/mt (AED 2,658/mt) CPT and at $726/mt (AED 2,666/mt) CPT for Dubai, Sharjah and Northern Emirates, for 90-day LC payment.
While the other domestic rebar producers in the UAE are expected to announce their prices soon, they traditionally issue them in line with Emsteel’s levels.
$1 = AED 3.672