Because the UAE rebar demand is still in a state of stagnation, the current prevailing price is US$436-545/ton.
Local traders have procured the stock at the cheapest price, and then re-exported it to Iran and Iraq, because the area is still showing good demand, and their price is better than Turkey’s offer at US$450-470/ton.
Market participants expect that the price will soar after domestic stocks have been consumed in the second quarter. Source: Yieh.com