According to market sources, the local
UAE rebar market has continued to be lively in terms of demand and transaction activities, while prices have remained stable over the past week in the range of AED 1,830-1,840/mt ($499-501/mt) delivered.
Meanwhile, Turkish producers'
rebar offers to the
UAE are at $455-460/mt CFR, while
UAE-based buyers' firm bids are at $440-450/mt CFR, both on theoretical weight basis. This week, a Turkish steel producer has concluded a
rebar deal in Dubai for approximately 40,000 mt of
rebar at $450/mt CFR. It is reported that some other Turkish producers are making
rebar offers to the Dubai market, though buyers are sticking to the price levels in their firm bids, which are lower than local steel producer ESI's domestic
rebar prices.
$1 = AED 3.67