According to market sources, Yemeni importers have accelerated their purchases of Turkish
rebar, despite decreasing
rebar consumption amid the continuing complicated political situation in the country. Turkish exporters'
rebar offers to
Yemen have decreased by $5/mt compared to last week to $465-470/mt CFR on theoretical weight basis, while a Turkish producer has sold 15,000 mt of
rebar to
Yemen at the price level in question. Market sources state that Turkish producers may conclude more
rebar deals in
Yemen for similar volumes in the above price range in the coming days.
Meanwhile, no ex-China
rebar offers have been heard in
Yemen this week either, not so much due to Chinese traders leaving the market due to the approach of the Chinese New Year holiday (February 18-24), but rather due to the fact that no inquires have been made for Chinese products in
Yemen.