Emirates Steel has unexpectedly increased its domestic rebar prices by AED 73/tonne ($20), despite a consensus among major traders for a price rollover.

The new quotes stand at AED 2,442/tonne ($665) ex-works, AED 2,447.25/t ($667) cpt Abu Dhabi, and AED 2,470.75/t ($669) cpt Dubai and Northern Emirates for September deliveries. This decision has raised concerns about how end users and secondary mills will respond to the price hike, which contradicts market expectations.