By Steel Market Update – GCC, UAE & Global
The GCC steel market continues to trade with a steady but cautious tone. In the UAE, rebar prices remain around AED 2,450 – 2,550 per metric ton, with mills holding offers steady as they monitor project activity and input costs. On the flat side, Chinese HRC import offers into GCC ports are currently in the range of US $485 – $510 per ton (CFR), which is shaping price discussions across the region and keeping local mills mindful of competitive pressure. Billet import prices in the broader MENA market are being heard around US $460 – $500 per ton (CFR), with buyers mostly booking for near-term requirements, maintaining a cautious purchasing approach.
Fabrication and galvanizing demand in the UAE remains stable but not aggressive, leading to continued short-term procurement strategies rather than forward stocking. Overall, sentiment in the region remains balanced, supported by infrastructure pipelines but moderated by cautious end-user activity.
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Global Market Snapshot
Globally, the steel market is moving through a mixed recovery phase. Chinese HRC export prices are currently around US $450 – $470 per ton FOB, keeping Asia-origin material highly competitive in global tenders. Meanwhile, Turkish rebar export prices are reported around US $560 – $600 per ton FOB, reflecting steady but cost-aware demand from MENA and East African buyers.
In Europe, mills continue to face margin pressure, with landed HRC import levels into EU ports hovering at US $580 – $620 per ton CFR, depending on origin and grade. At the same time, India has increased finished steel exports, leveraging price advantage and expanding supply into the Middle East and Southeast Asia, adding further competition to regional procurement channels.
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Market Outlook
The near-term tone across the steel market remains balanced, with pricing influenced by:
Pace of construction and infrastructure project execution in the UAE & GCC
Volume and competitiveness of import offers from China, India and Turkey
Movements in scrap and energy costs globally
Most Ferrous market participants are expected to continue short-cycle purchasing as they wait for clearer demand signals heading into the next quarter.
