Jordanian rebar market hit by regional political instability

In this week's Jordanian domestic market, medium-sized rebar prices have remained unchanged as compared to last week at JOD 620-625/mt ($874-881/mt) ex-works on actual weight basis, inclusive of eight percent local taxes and for 30-45 day deferred payments.
 
Rebar demand in Jordan has remained sluggish as in previous weeks and the transaction volume has not shown any improvement. Due to political turbulence in Syria, not only rebar and steel billet shipments, but also all import deliveries to Jordan have been affected negatively and this is posing problems for the already depressed Jordanian economy.
 
For now, although rebar buyers in Jordan continue their purchases within the scope of meeting their urgent needs, since rebar demand in the country is weak no new rebar offer has been heard lately from Turkey. Jordanian market players hope for better rebar demand if political and economic stability is restored in the region.
 
JOD 1 = $1.41