On July 22, Emsteel, the leading steel manufacturer and market leader in the United Arab Emirates (UAE), announced its rebar prices for August production. Despite a seasonal slowdown in construction activity during the summer months due to high temperatures, demand in the rebar segment has remained steady. As a result, Emsteel has decided to maintain its current price levels for the seventh consecutive month. According to market sources, domestic rebar consumption is expected to remain in line with previous months, estimated at approximately 380,000-390,000 metric tons.
Accordingly, Emsteel has announced stable rebar offers for August production in the domestic market at $675/mt (AED 2,480/mt) ex-works. Similarly, rebar offers for Abu Dhabi have been quoted at $676/mt (AED 2,485/mt) CPT, and for Dubai, Sharjah, and the Northern Emirates at $678/mt (AED 2,492/mt) CPT, with 90-day LC payment.
On the other hand, while other local rebar producers in the UAE are anticipated to announce their pricing shortly, they typically do so in accordance with Emsteel's price levels.
$1 = AED 3.672