It is observed that domestic rebar prices in the United Arab Emirates (UAE) market have remained stable during the past week at AED 2,260-2,300/mt ($616-627/mt) delivered to customer. On the other hand, UAE-based producers are expected to revise their domestic rebar prices downwards for August output. According to market sources, the weakness of demand in the local UAE rebar market is attributed to the summer season and so trading activities, which are slow for now, are expected to accelerate as of September.
$1 = AED 3.67