According to market sources, Turkish steel mills'
rebar offers to the
UAE market have softened to $590/mt CFR, on theoretical weight basis. However, no deal has been concluded yet at the new offer level, while buyers in the
UAE, whose stocks are at high levels, believe that it is early to conclude deals.
Meanwhile, Turkish mills with new
rebar offers at $590/mt CFR seem ready to reduce their prices to $585/mt CFR if they receive demand, while market players in the
UAE are expecting
rebar offers from
China to Dubai to decline soon to the level of $570/mt CFR on theoretical weight basis, as Chinese market players are returning from the holidays.