Insufficient demand in Jordanian rebar market

In this week's Jordanian domestic rebar market, medium sized rebar prices have increased by JOD 20/mt ($28/mt) on the lower end and by JOD 5/mt ($7/mt) on the upper end of the price range, reaching JOD 620-625/mt ($874-881/mt) ex-works, including eight percent VAT, on actual weight basis, for 30 and 45-day deferred payments.
 
With the ongoing tight liquidity in the Jordanian domestic rebar market, demand has not yet reached the expected levels, though some improvement has been observed in demand as compared with previous weeks. In this context, local buyers are still seeking to avoid risks and are only concluding deals according to their urgent needs.     
 
In the meantime, no new rebar import offer from Turkey to the Jordanian long steel market has been heard this week either.
 
JOD 1 = $1.41