Emirates Steel Arkan (ESA), the UAE's largest steel producer and market leader, has announced its rebar pricing for September production. According to reports, the company has decided to increase pricing as demand has begun to show greater improvements.
The supplier's new 12-32 mm rebar price has increased by $20/mt for September production, reaching $665/mt (AED 2,442/mt) ex-work. Similarly, rebar offers have been increased to $667/mt (AED 2,450/mt) CPT Abu Dhabi and $669/mt (AED 2,458/mt) CPT Dubai, Sharjah and the Northern Emirates, with 90-day LC payment.
In the meantime, other local rebar producers in the UAE are expected to make their price announcements shortly. Retailers in the UAE have provided quotes for rebar that range from $618/mt (AED 2,270/mt) ex-warehouse for ESA material and $590-600/mt (AED 2,170-2,200/mt) ex-warehouse for rebar produced by other regional suppliers.
$1 = AED 3.672