The UAE's long steel market has shown signs of a gradual recovery, buoyed by heightened construction site activity. Despite the promising outlook, industry stakeholders remain watchful, with the direction of rebar prices remaining shrouded in uncertainty. The selling price of rebar from mills to traders has experienced a marginal dip, currently hovering between AED 2,200-2,225/t ($599-606 t) delivered, compared to AED 2,200-2,235/t ($599-608 t) at the outset of the month.
Producers are not taking risks and prefer to maintain sustainable sales channels," noted industry insiders, highlighting a prudent approach to market dynamics. As the industry awaits guidance from the benchmark mill, strategies for the near future hang in the balance. As the UAE rebar sector navigates through these uncertain times, industry remain poised for a clearer price trend to emerge
Comments
No comment yet.