UAE-based Emirates Steel, part of EMSTEEL Group, has increased rebar prices for June production.
The company raised rebar prices by AED 100 (USD 27) per ton to AED 2,821 (USD 768) per ton EXW, excluding 5pct VAT.
Market insiders said the increase was largely expected amid logistics disruptions and rising cost pressures linked to regional tensions.
Sources added that rebar consumption in the UAE remained relatively weak during the current month, although sentiment toward the medium-term outlook remained positive due to several large-scale construction and infrastructure projects in the pipeline, some of which have reportedly faced delays due to the conflict.
Headquartered in Abu Dhabi, Emirates Steel has a production capacity of 3.5 mln tons of steel and 4.6 mln tons of cement annually. The group exports to over 70 markets, accounting for 30pct of its sales. The company offers a diverse range of steel products, including wire rod, rebar, heavy sections, and sheet piles.
1 USD / 3.67 AED