According to market sources, rebar prices in the local UAE market have decreased by AED 10/mt ($3/mt) compared to last week and are currently in the range of AED 2,270-2,290/mt ($619-624/mt) delivered.
Meanwhile, ex-Turkey rebar offers to the UAE have decreased by $5/mt over the past week to $575-580/mt CFR on theoretical weight basis and for October shipments. On the other hand, the discounts that UAE buyers had been waiting for since last week have been realized both for domestic production and imported materials due to cheaper Chinese offers and softer raw material prices.
$1= AED 3.67