Arab Steel Summit
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Arab Steel Summit

UAE: Rebar prices rise by 8% during the first quarter of 2024

Rebar prices in the UAE markets moved in a narrow range during the first quarter of 2024, ranging around 2,745 dirhams/ton, compared to an average of 2,538 dirhams/ton during the same period in 2023, an increase of 8%.

Prices reached levels of 2,680 dirhams/ton in January of this year, while they ranged around 2,734 dirhams/ton last February, settling at 2,745 dirhams/ton in March.

Workers in the construction and building materials trade sector attributed this rise to reasons related to supply and shipping lines and their high cost, in addition to opportunities for the availability of basic raw materials that are used in this industry in light of global geopolitical conditions.

Rebar prices ended the year 2023, rising by 1.6% during the months of December and November to 2,260 dirhams/ton, compared to their counterparts in October, which stabilized at 2,222 dirhams/ton.

Prices in the local market recorded a decrease of 6.5% to 2,351 dirhams/ton in September, compared to 2,516 dirhams/ton in August and July. It reached about 2,750 dirhams/ton in June, after declining by 13%, compared to May prices, which reached about 3,174 dirhams/ton.

Prices rose during the month of April by 21% to 3,120 dirhams/ton, compared to 2,587 dirhams/ton in March, which also achieved a 4% increase, compared to the months of February and January, which recorded 2,488 dirhams/ton, against the backdrop of the start of the crisis in Ukraine. , during the last week of February.


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