Business activity has been largely suspended in the steel trade with Lebanon, which is an important market for Turkish rebar suppliers, the ones based in the Iskenderun region specifically.
The wave of protests in the country, which started last week, has led to the temporary closure of many companies. In addition, according to sources, the main sea ports of Lebanon are currently not operational, and this situation undermines the delivery of steel cargoes, which were booked previously and may be on the water, SteelOrbis understands.
As a result, negotiations for new supplies are on hold now as the sides need to see a clearer market picture. If the situation is not resolved in the near future, some volumes may be redirected to alternative markets following cancellations in Lebanon, sources say.