Emirates Steel, the leading integrated steel manufacturer in the Middle East, has announced a major reduction in its rebar prices (8-32 mm) by AED346 ($94)/tonne for September delivery thus taking the final costs to AED2,610 compared to AED2,956 for August delivery.

This is mainly to support the construction sector and maintain the balance across the local market, keeping the prices of rebar in the UAE among the lowest regionally and globally, said senior company officials on the sidelines of the The Big 5, the region’s largest construction industry’s event, which concluded today in Dubai.

The event recorded over a 1,000 local and international exhibitors with 20 national pavilions from 45 countries.

Emirates Steel stand featured virtual tours within the company’s plants, and highlighted its facilities offered to support the construction sector, and its new products.

During the event, the company discussed customers’ new requirements and needs in terms of products, services, and engineering solutions.

CEO Saeed Ghumran Al Remeithi emphasised the company’s role in supporting the UAE’s economic diversification and promoting its sustainable economic model based on knowledge and innovation.

Emirates Steel is currently preparing for its effective participation in Abu Dhabi International Petroleum Exhibition and Conference (Adipec 2021), to be held at Abu Dhabi National Exhibition Centre (Adnec) in November, where it seeks to establish its position in oil and gas sector across the region.–TradeArabia News Service