Yemeni rebar prices soften while Turkish offers remain stable

Last week, Turkish rebar offers to the Yemeni market were standing at $670/mt CFR. However, no transaction was heard at this price range. Moving to this week, Turkish rebar offers to Yemen have remained unchanged on FOB basis at $645-655/mt on theoretical weight basis, for March shipments. Some transactions are reported to have been concluded at this price range.
 
In the Yemeni domestic market, on the other hand, prices have shown some softening from last week's $780-785/mt ex-warehouse. With the arrival of cargos from previously concluded transactions to Yemen, rebar supplies in the domestic market have increased, resulting in a drop of $10/mt in local prices to $770-775/mt ex-warehouse. Rebar demand in the country is currently trending sideways.