Rebar prices continue to grow in spite of virtually non-existent demand in theUAE long product market. In a week, mills’ domestic prices for rebar have risenby $10-15/t. Market sources report the prices for finished longs are rising onlydue to continuous growth of import semis quotations, which have added $10/t in a week. At the same time, hopes of market participants for implementationof some construction projects in Dubai are becoming even more illusory. Thesituation in Abu Dhabi and Sharjah, where two construction projects havealready been announced, is somewhat better but it has little effect on themarket. As a result, consumers of finished longs stay inactive and book onlysmall lots.
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