SteelOrbis has learned from market sources that in the Lebanese domestic rebar market, where demand is at medium levels, offers are at $640/mt ex-works, exclusive of 10 percent VAT. In the meantime, rebar offers from Turkey to Lebanon are standing in the range of $580-585/mt FOB. Rebar offers from Turkey have decreased by $10-15/mt since last month, while market players state that the rebar price idea of buyers from Beirut is at $575/mt FOB for Turkish rebar. Since shipments of significant rebar volumes from China from previous transactions continue to arrive in Lebanon, demand for imported rebar is slack in the Lebanese market. It is also observed that rebar offers from China are $20/mt lower than ex-Turkey offers.
Meanwhile, market sources state that some movement is expected in the rebar market by October, and that, as new construction projects are planned in the country, buyers may meet their high quality rebar needs from Turkey and the CIS.