UAE-based ESA keeps rebar prices unchanged amid stable demand

Wednesday, 20 March 2024 17:17:29 (GMT+3)   |   Istanbul
       

On March 20, Emirates Steel Arkan (ESA), the largest steel manufacturer and market leader in the United Arab Emirates (UAE), released its rebar pricing for April production. According to the company's statement, rebar offers for March have been kept stable for April since domestic demand and trade have remained unchanged.

"Demand is acceptable, with anticipated rebar consumption of 260,000-270,000 mt, though Ramadan has begun and a holiday is coming up, so business activity will slow down," a UAE-based trader told SteelOrbis. 

As a result, ESA's domestic market rebar offers for April production have remained stable month on month at $745/mt (AED 2,735/mt) ex-works. Similarly, rebar offers at $747/mt (AED 2,743/mt) CPT Abu Dhabi and $749/mt (AED 2,750/mt) CPT Dubai, Sharjah and the Northern Emirates with 90-day LC payment have been kept unchanged.

On the other hand, while other local rebar producers in the UAE are anticipated to announce their pricing shortly, they typically do so in accordance with ESA's price levels.

 $1 = AED 3.672


Similar articles

Rebar export price declines in Brazil during the last four weeks

22 Nov | Longs and Billet

North African longs exporters mainly sold out until Jan, Russian and Chinese most aggressive

22 Nov | Longs and Billet

Ex-China rebar prices decline amid negative mood, though some output cuts announced

22 Nov | Longs and Billet

Domestic rebar prices in Taiwan - week 47, 2024

22 Nov | Longs and Billet

Major steel and raw material futures prices in China – November 22, 2024 

22 Nov | Longs and Billet

MOC: Average steel prices in China down slightly during Nov 11-17

22 Nov | Steel News

Asian wire rod prices edge down further despite rises in Chinese futures prices

21 Nov | Longs and Billet

Southern European longs market stable, shutdowns expected

21 Nov | Longs and Billet

US import long steel markets creep higher ahead of expected slow US Thanksgiving holiday week

21 Nov | Longs and Billet

US domestic rebar pricing up slightly while wire rod remains steady on week 

21 Nov | Longs and Billet