Market insiders in the United Arab Emirates reported that rebar prices for Emirates Arkan Steel reached 2,370 dirhams ($645) per ton CFR.
This comes after Emirates Steel Company amended its pricing policy, moving from the unified market price to different prices based on individual customer agreements.
Regular customers reportedly get additional discounts on orders exceeding a certain percentage of the monthly volume agreed upon under the Memorandum of Understanding (MoU) with Emirates Arkan Steel.
Last month, the prices of Emirates Arkan Rebar (10-40 mm) were 2,744 dirhams ($747) per ton CPT Abu Dhabi and 2,752 dirhams ($749) per ton CPT Dubai, Sharjah and the Northern Emirates.
The above prices do not include 5% VAT.
1 dollar = 3.67 UAE dirham
