Demand for ex-Turkey rebar in Lebanon may improve

According to market sources, Turkish rebar offers to Lebanon stand at $580/mt FOB, while Chinese offers to the country can be found at $540/mt FOB. In addition, this week Italian rebar offers to Lebanon have increased to €460/mt ($603/mt) CFR following the deals concluded in the past week at €450/mt ($590/mt) CFR.
 
Meanwhile, local buyers, who have been waiting for a clearer trend for scrap prices and import rebar offer levels, have remained cautious regarding new purchases. In particular, considering that 200,000 mt of previous ordered rebar from China has not yet been delivered though a long time interval has already passed, Lebanese buyers have become more prudent in relation to Chinese offers, which may result in increased demand for Turkish rebar offers in the country.
 
€1 = $1.31