According to market sources, ex-Turkey
rebar offers to
Yemen have softened by $5/mt compared to two weeks ago and are currently in the range of $590-595/mt CFR, on theoretical weight basis. Demand is currently strong in the local Yemeni market.
Rebar deals have been concluded by two Turkish producers to
Yemen in the range of $570-585/mt CFR on theoretical weight basis and for shipments in April and May. Meanwhile, market sources report that another Turkish producer has undertaken to send approximately 70,000 mt of
rebar to a Yemeni buyer in place of a previous shipment which was rejected due to a dispute over product quality. Market sources say that this week the price expectations of Yemeni buyers stand in the range of $580-585/mt CFR on theoretical weight basis and they are expected to start buying if they find their desired price levels in the market.
Demand for imported
rebar in
Yemen market is expected to be on the strong side prior to Ramadan. Market sources state that in the coming days Turkish producers other than the ones which conclude deals with Yemeni buyers every month, may conclude transactions in the Yemeni market.