The price of rebar in the United Arab Emirates has fallen, with rebar demand remains in poor condition.
The summer season, as well as the adverse weather situation in recent months, intensified demand, and rebar consumption is still on the UAE's recovery route.
The consequences of unusual and seasonal weather conditions are key factors that have prevented demand improvement.
An informed source said: There is no major improvement as we expected. However, consumption has not yet reached the expected amount of 6,000 to 6,000 tons. It is very difficult to understand the price level of factory transactions to the businessman. In general, gross prices have fallen, but there is no change in the market compared to last month.
Under such circumstances, the current average price in transactions between factories and businessmen is 2.200 dirhams per ton ($599 per ton) for factories other than the Emirates Arkan Steel. The proposals from Hamriyah Steel have also reached 2.160 dirham ($588).
However, there is a positive attitude towards increasing demand, and after the Eid al -Adha holidays, construction is expected to boost again. This is a common situation for this moment.
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