Activity in Lebanese rebar market hit by bad weather

Adverse weather conditions have negatively affected transaction activity in the Lebanese steel rebar market, with demand dropping and the market continuing to remain quiet. Meanwhile, Lebanese producers' rebar offers are currently standing at $700/mt ex-works, including five percent VAT.
 
The Lebanese long steel market has recently received a lot of rebar import offers from Turkey and the CIS. Turkey's rebar offers to the Lebanese market are at $650-655/mt FOB, while the CIS offers are standing at $650-655/mt CFR. However, there have been no transactions concluded so far between Turkey and Lebanon. On the other hand, local buyers have found the CIS rebar offers more advantageous than the Turkish offers, and so they have concluded some transactions from the CIS according to their needs. As SteelOrbis has learnt from market sources, buyers seeking to conclude high volume purchases are expecting lower prices than the above levels.