The rainy weather in Yemen, which has continued for a long time now, has interrupted domestic construction projects, resulting in reduced rebar purchases in this period.
Meanwhile, Turkish rebar offers to Yemen stand at $605-610/mt CFR on theoretical weight basis, indicating a decline of $5/mt on the higher end, while Chinese rebar offers to Yemen can be found at $590-600/mt CFR on actual weight basis.
Market players state that shipments are still continuing of the 50,000 mt of rebar from Turkey which were transacted at $610-615/mt CFR, while Yemeni buyers expect a decrease in Turkish origin rebar prices and anticipate a decline in offer prices down to the level of $590-600/mt CFR on theoretical weight basis.
