Rebar retail prices in the United Arab Emirates have remained unchanged, with no short-term movement expected due to the Eid holiday regulation. According to Kallanish, all workers will not work for one day before and after the Eid holiday, which runs from June 16-18.

This week, excluding the 5% VAT and on a delivered and LC 90-120 days basis, the bulk of benchmark-mill rebar sales have been stable compared to last week, averaging AED 2,340-2,350 per tonne ($637-640). Retail prices for secondary mills' rebar are quoted at AED 2,280-2,300 per tonne ($621-627) in Abu Dhabi and Dubai, and AED 2,240-2,260 per tonne ($610-616) in the Northern Emirates.

The benchmark mill, Emirates Steel, has maintained its rebar price at AED 2,596 per tonne ($707) cpt Abu Dhabi and AED 2,604 per tonne ($709) cpt Dubai, Sharjah, and the Northern Emirates, all delivered on 90 days credit. However, some secondary mills offering rebar at AED 2,290-2,300 per tonne delivered against 90 days have faced resistance from traders in Dubai and Abu Dhabi, who are requesting a compromise of AED 10-20 per tonne