40,000 mt of Turkish rebar sold to Yemen

Turkish steel mills' rebar offer to Yemen, which had increased by $15/mt in the previous week, have remained unchanged since last week at $610-615/mt CFR on theoretical weight basis. Meanwhile, at the weekend 40,000 mt of rebar in total was sold at this price level from Turkey to Yemen for end of January shipment.
 
Yemeni market players consider current ex-Turkey rebar offers to be acceptable, though Turkish origin rebar offers are expected to increase further. On the other hand, despite lower rebar offers from China to Yemen, Yemeni buyers prefer to conduct business with Turkish mills, as arrival of Chinese materials takes about 40-45 days and there is also uncertainty regarding quality.