United Arab Emirates rebar sales volumes have surged in the retail market as the benchmark mill, against expectations of a decline, maintained its April-rolling quote at AED 2,735/tonne ($745) ex-mill for the second consecutive month. Other mills have also held their prices steady from March, at AED 2,350-2,400/t delivered on 90-day credit. Traders have been notified by some mills of a potential discount of AED 15-20/t based on transaction volumes in March. Corporate retail rebar prices in the UAE this week stand at AED 2,525-2,550/t for the benchmark mill and AED 2,420-2,480/t for other suppliers, averaging at AED 2,450/t.
The upcoming long Eid holiday, starting on April 10, combined with the weekend, is expected to see increased rebar purchases by contractors aiming to meet ambitious project deadlines. The market has shown improvement in terms of purchase volumes following inquiries, with expectations of growing demand and prices post-Eid holiday as major projects commence rebar intake in June.
