Rebar prices in the Gulf region witnessed an increase. Emirates Steel Arkan increased its price by AED 92/t ($25/t) to AED 2,689/t ($732/t) CPT Abu Dhabi and AED 2,696/t ($734/t) CPT Dubai, Sharjah and northern emirates. Bahrain’s Unirol raised offers by BHD 5/t ($13/t) to BHD 250/t ($662/t) EXW. Saudi Iron and Steel Company (Hadeed) was an exception, decreasing the official price by SAR 75/t ($20/t) to SAR 2,325/t ($620/t) delivered amid insufficient business activity in the country. Prices are indicated without 5% in the UAE, 10% VAT in Bahrain and 15% in Saudi Arabia. Currency rates: $1 = AED 3.67; BHD 1 = $2.65 and $1 = SAR 3.75.
