From Sunday October 24, the mill is offering its rebar at 2,490 dirhams ($678) per tonne ex-works, compared with 2,406 dirhams per tonne ex-works previously.
The previous price was announced in late September
Other rebar producers in the country did not announce any new prices at the time of writing.
Domestic rebar prices in the UAE are typically announced every fortnight.
Sources said that Emirates Steel had likely made its latest move in response to rising global prices and improved demand.
For instance, export prices for Turkish rebar have been increasing recently amid higher costs
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), export, fob main port Turkey
was $750-760 per tonne on Thursday October 21, up by $25-30 per tonne (3.8%) from $725-730 per tonne on October 14.
The increases had been expected by buyers
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, exw UAE
was 2,400-2,450 dirhams per tonne on October 19, up by 100-104 dirhams per tonne from 2,300-2,346 dirhams per tonne a week earlier.
The next price assessment for this product is on Tuesday October 26.
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