After four months of price hikes, Emirates Arkan Steel announced rebar prices for May at AED 2,541 per tonne (US$692 per tonne) CPT Abu Dhabi and AED 2,549 per tonne (US$694 per tonne) CPT Dubai.
As prices rolled back to March levels and decreased from April by 129 dirhams per tonne ($35 per tonne), owing to international billet prices decline.
Other mills are evaluating their pricing strategy, which will take some time to be announced, as Arabian Gulf Steel Industries, Union Iron and Steel, Conares, Hamriyah Steel and Qatar Steel FZE.
Prices are indicated without 5% VAT.
Currency rate: $1 = AED 3.673
