According to market sources, rebar offers from Turkey to Yemen where demand is weak at present have declined by $10/mt over the past week to $520/mt CFR on theoretical weight basis. Ex-Turkey rebar offers to Yemen are expected to fall to the range of $510-515/mt CFR in the coming days, while this expectation causes Yemeni buyers to wait before concluding any transactions.
On the other hand, ex-China rebar offers to Yemen are currently in the range of $490-500/mt CFR on theoretical weight basis. Yemeni buyers show no interest in Chinese products due to the lower Turkish offers.