Emirates Steel Arkan (ESA), the UAE's largest steel producer and market leader, has announced its rebar pricing for February production. The company has decided to raise its prices in response to the ongoing improvement seen in demand. According to industry participants, rebar consumption in the UAE will be around 240,000-250,000 mt this month, and, with construction projects underway, an optimistic outlook persists for future months.
The supplier's new rebar price has increased by $15/mt for February production, reaching $745/mt (AED 2,735/mt) ex-work.
Meanwhile, other local producers have not yet released their prices, though they are expected to follow the same trend in the coming days.
$1 = AED 3.67