In the United Arab Emirates (UAE), Emirates Steel Arkan (ESA), the largest local steel producer and market leader, has announced its domestic rebar prices for March production. According to the company announcement, prices have been kept stable for March output because of the stability of trade and demand.
“We anticipated that March prices would be stable because demand is steady and UAE prices are already higher than those of other GCC rebar producers,” a trader commented to SteelOrbis
As a result, ESA's current offers for rebar for March production have remained stable month on month at $745/mt (AED 2,735/mt) ex-works.
Other local producers have not yet released their prices, though they are expected to follow the same stable trend in the coming days.
$1 = AED 3.67