Qatar Steel has established a new benchmark for the secondary rebar market in the United Arab Emirates, prompting local suppliers and Omani producers to adjust their pricing strategies. Following Qatar Steel's lead, secondary mills have quoted rebar prices between AED 2,260 and AED 2,320 per tonne, delivered on a 90-day credit basis.
In December, these secondary suppliers increased their prices by AED 50-73 per tonne compared to November, reflecting a broader trend in the market. The benchmark mill's price for December has been set at AED 2,588 per tonne, marking a rise of AED 73 per tonne from the previous month.
Despite a relatively stable demand for rebar, total sales for December are projected to be around 180,000 tonnes, down from over 210,000 tonnes in November. This shift indicates that while the market remains active, year-end priorities among traders may impact sales volumes.
