Rebar prices in the local market in the UAE recorded a sudden drop in June, touching 2,530 dirhams per ton, down 16.6% compared to prices last May, which were around 2,950 dirhams per ton, according to sources working in the building materials trade.
The sources linked this decline to several reasons, including the drop in global rebar prices, and the decline in the severity of the repercussions of the geopolitical crisis in Eastern Europe on imports of raw materials from Russia, which began to restore normal export levels of raw materials and billet until before the Russian-Ukrainian war despite from Western sanctions, in addition to the availability of new sources of import.

Rebar prices in the UAE fell during the month of May by 8% to 2,950 dirhams per ton, after they jumped to an average between 3,200 and 3,300 dirhams per ton during the months of March and April of this year, against the background of the geopolitical crisis between Russia and Ukraine that began on February 24.