- Rebar price stability supports mill purchases
- Trade volumes for key grades remain modest
BigMint‘s UAE domestic processed HMS index slipped AED 11/t ($3/t) w-o-w to AED 1,185/t ($323/t).
An Abu Dhabi-based mill source said, “Processed HMS is at AED 1,190/t ($324/t), shredded at AED 1,260/t ($343/t), and PNS at AED 1,200/t ($326/t). Workable levels are slightly low for us. With rebar prices largely stable, we don’t anticipate any major changes in scrap purchase prices. Trade volumes at these levels were decent last week, with a minimum of 1,000 t each.”
A major trading house commented, “No major trades have taken place this week so far. UAE-origin shredded scrap CFR Qasim stood at $385/t. A major steel mill quoted their bids for PNS at AED 1,175‑1,185/t ($320-322/t), while the market stands at AED 1,200/t ($326/t). For HMS processed and shredded, they sought AED 1,180-1,190/t ($321-324/t) and AED 1,240-1,250/t ($337-340/t) levels last week.”
Prices at the start of the week…
- LMS: AED 950-1,000/t ($258-272/t)
- HMS 80:20: AED 1,150-1,170/t ($313-318/t)
- HMS processed/sheared: AED 1,200-1,210/t ($326-329/t)
- PNS: AED 1,230-1,240/t ($335-337/t)
- PNS processed: AED 1,240-1,260/t ($337-343/t)
- End-cut: AED 1,260-1,280/t ($343-348/t)
…Towards the weekend
- LMS: AED 900-950/t ($245-258/t)
- HMS 80:20: AED 1,130-1,140/t ($307-310/t)
- HMS processed/sheared: AED 1,180-1,190/t ($321-324/t)
- PNS: AED 1,210-1,220/t ($329-332/t)
- PNS processed: AED 1,230-1,240/t ($335-337/t)
- End-cut: AED 1,260-1,270/t ($343-345/t)
UAE rebar market: The UAE rebar market remains balanced after weeks of steady demand and disciplined supply management. Domestic rebar traded at AED 2,350-2,380/t ($639-647/t), while Omani rebar moved at AED 2,320-2,330/t ($631-634/t) CPT, with volumes exceeding 100,000 t. Early signs of competition are emerging from Saudi and Chinese suppliers, which could disrupt supply-demand balance and test price resilience in the GCC’s active long steel market.
Other updates
Al Jazeera Steel nears UAE expansion: Oman-based Al Jazeera Steel is close to commissioning its new UAE medium section mill in Q1 2026. The UAE facility will initially produce medium sections, with plans for special profiles and rails. The company also upgraded its Oman plant with IPE beams (100-140 mm) and steel flat bars (8-12 mm, 150 mm wide), expanding its product portfolio. The move is expected to intensify competition in niche segments currently dominated by SULB Saudi Arabia.
Etihad Rail advances UAE logistics: Etihad Rail, in collaboration with Abu Dhabi and Fujairah Customs, ports, and Noatum Logistics, is establishing a bonded rail corridor linking Khalifa Port to Fujairah Terminals. Pilot operations are expected in Q4 2025, aiming to reduce truck traffic, lower carbon emissions, and increase steel demand for railway infrastructure and logistics hubs. The corridor strengthens UAE’s multimodal transport network and supports Net Zero 2050 goals.
Outlook: Domestic scrap demand is steady with stable rebar prices, while exports to Pakistan remain weak. Cautious regional buying suggests export activity will stay subdued. Prices are expected to hold near current levels unless mill’s scrap purchase competition intensifies.
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