Abu Dhabi – Mubasher: Steel prices witnessed an increase across the UAE last week, construction workers and sources told Al Khaleej newspaper.
The price per tonne of Turkish and UAE steel rose 10% to exceed AED 1,930, compared to an average of AED 1,730 during the past few weeks.
The sources attributed the sudden rise in prices to the activity in the domestic construction sector which has seen the issuance of a number of large tenders, such as Deira Mall and The Palm Gate Way.
The selling price of the UAE and Turkish steel varies according to the payment mechanism, which currently amounts to AED 1,930 per tonne for cash payment and more than AED 2,000 per tonne on credit for up to 120 days from the date of purchase, according to the newspaper.
