- End-user demand remains insufficient for price increase
- Strong competition keeps transaction prices below list levels
Emirates Steel has maintained its domestic rebar price for October at AED 2,921/t ($795/t) exw, extending the rollover for a third consecutive month amid cautious buying and strong competition in the UAE market.
Competition from domestic mills, regional suppliers, traders and smaller producers continues to pressure transaction prices. During the previous booking round, deals were largely concluded at AED 2,860-2,880/t ($779-785/t) DAP, with market participants estimating the producer’s effective net selling price at around AED 2,870-2,880/t ($781-784/t).
The rollover was broadly expected as end-user demand has yet to strengthen enough to support a price increase. At the same time, elevated raw material and logistics costs are limiting scope for a price cut.
The producer also kept its AED 92/t ($25/t) surcharge for 8 mm rebar unchanged, while payment terms remain at a 90-day letter of credit.
The October list price is likely to remain a key market reference, while actual transaction levels will depend on project demand, material availability, order volumes, and payment terms.
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