Rebar prices in the UAE's local market remained steady for the third consecutive month in 2023 (June, July, August). Prices fell by 11% to 2450 dirhams per ton (667,02$/t) compared to June 2022's 2750 dirhams/ton (748,69$/t). On the other hand rose 3% from 2380 dirhams/ton (647,96$/t) at the start of 2023. Stability was attributed to balanced supply and demand, recovery from global events, and stable supply movement despite rising freight costs due to the pandemic.
Monthly fluctuations were seen, with prices declining to 2450 dirhams/ton (667,02$/t), from a peak of 3174 dirhams/ton (864,13 $/t) in May 2022. The UAE's construction sector remains robust, with high growth rates and a projected value of $133.5 billion by 2027.
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