Emsteel, the largest domestic steel producer and a leading market player in the United Arab Emirates (UAE), has announced its rebar and wire rod prices for December production. The company has opted to keep both product price levels unchanged, noting that current domestic conditions do not warrant any adjustments. According to market participants, construction activity in the UAE continues at a steady pace, and rebar consumption has been gradually rising, estimated at 560,000-575,000 mt in November.
Meanwhile, in the wire rod segment, although some Chinese mills are offering wire rod at lower price levels, these alternatives have not had a meaningful impact on Emsteel’s position in the market. Buyers reportedly continue to prefer Emsteel’s product quality and more reliable delivery schedules. As a result, the producer has chosen to roll over its rebar and wire rod prices heading into December.
For December output, Emsteel has maintained its rebar price for 12-32 mm material at $720/mt (AED 2,644/mt) ex-works, unchanged from last month. Rebar offers also remain stable at $722/mt (AED 2,651/mt) CPT Abu Dhabi and $724/mt (AED 2,658/mt) CPT Dubai, Sharjah, and the Northern Emirates, based on 90-day LC payment.
Other local rebar mills in the UAE have not yet issued their updated price lists. However, market sources expect their announcements to align closely with Emsteel’s levels, as the local market typically follows the pricing direction of the country’s main producer.
In the wire rod segment, the same stability has been observed. Recent offers have been held at $570-575/mt CPT (AED 2,093-2,111/mt), consistent with last month’s pricing. According to market sources, Chinese wire rod offers have, in contrast, moved slightly lower, now reported at $500-510/mt CPT for January shipment, compared with $510-520/mt CPT in the previous month.
$1 = AED 3.672