Emirates Steel, the benchmark mill in the United Arab Emirates, has raised its January list prices for domestic 10-40mm straight rebar (BS4449:2005 grade GR500B) by AED 50 per tonne ($13.6) compared to December. The new prices are set at AED 2,652 per tonne ($722) ex-works, AED 2,657 per tonne cpt Abu Dhabi, and AED 2,667 per tonne cpt Dubai, Sharjah, and Northern Emirates. Strong demand for reinforcing steel is anticipated to persist into the first quarter of 2025, driven by positive trends in the steel market and rising international scrap prices. Additionally, the UAE's increasing property prices are expected to boost construction demand, further influencing material costs. Local suppliers, including Oman-based Jindal Shadeed, are expected to announce their new rebar prices soon, with indications that they may follow Emirates Steel's lead.