Emirati producers have announced domestic prices for their September rebar output. As expected, Emirates Steel Industries has left quotations at $752/t (AED 2,760/t) EXW. All prices are given on theoretical weight basis, the exchange rate is $1 = AED 3.67. Conares Metal Supply has not revised its prices too and is currently offering its products at $747/t (AED 2,740/t) EXW.
As a result, Turkish rebar still remains attractive to customers from the UAE since its latest offers were lower than prices in the home market – $725-730/t C&F (excluding 5% duty). However, as Emirati traders have already built sufficient stocks, contracts for large batches of the material are unlikely.
( Source: www.metalexpert-group.com )