Rainy weather in Israel hits local rebar demand

The Israeli rebar market has remained sluggish again this week. The rainy weather in the county is still causing buyers to keep their rebar purchases to a minimum.
 
In line with tepid demand, Israeli producers' domestic rebar offers have remained unchanged as compared to last week at $780-790/mt ex-works on actual weight basis, for advance payments and exclusive of 16 percent VAT.
 
In the meantime, while Turkish mills' rebar offers to Israel are standing at $680-690/mt FOB on actual weight basis, no transactions have been heard so far at this price range.
 
If weather conditions improve in the coming days, Israeli rebar demand may then show some recovery.
 
According to market participants, the Israeli rebar market is keeping a close eye on the Turkish market and the situation in the Turkish market may affect price levels in Israel.