Lebanon is continuing to struggle amid difficulties due to political and financial issues, to which the Covid-19 pandemic has also contributed. In addition, most Lebanese rebar buyers are refraining from new purchases ahead of the holiday season. The optimistic scenario assumes that a new cabinet will be formed soon. The pessimistic scenario assumes that the current political deadlock will continue and that the Lebanese economy will contract again.
Local Lebanese rebar prices are currently available at $690-700/mt delivered to customer, excluding 11 percent VAT. Special discounts may apply for serious buyers.
Turkey is still the main supplier to Lebanon. Sources report that last week around 5,000 mt of rebar was traded to Lebanon at $650/mt CFR Beirut, for March shipment. Moreover, around 2,000 mt of wire rod were purchased at $690/mt CFR Beirut for March shipment, SteelOrbis has learned. The estimated freight rate from Turkey to Lebanon is $15/mt. According to sources, slightly higher wire rod offers, around $720/mt FOB, are being voiced from Turkish mills this week.