Emirates Arkan Company announced that it will keep the prices of rebar for May production (10-40 mm) unchanged at 2,744 dirhams ($747) per ton CPT Abu Dhabi and 2,752 dirhams ($749) per ton CPT Dubai, Sharjah and the Northern Emirates. The above prices do not include 5% VAT.
The factory's decision to keep prices unchanged came as a surprise to some in the market, as the Eid holiday and record rains caused disruptions and closures in cities across the UAE and Oman, leading to a surge in inventory in rebar dealers' warehouses.Â
Despite the market challenges, Emirates Steel Arkan has opted to maintain stable rebar prices for its customers. This move is likely aimed at providing some stability and predictability in the market during a period of uncertainty.
