SteelOrbis has learned from market sources that rebar offers from Turkey to Lebanon are at $585-590/mt FOB. Sources say that Lebanese buyers are purchasing in very smaller volumes just to meet their needs.
Meanwhile, market sources state that Lebanese traders have rebar stocks in hand from previous transactions from China and are now struggling to destock these rebars, since Chinese rebar is not preferred for large construction projects. Although the ex-China rebar offers to Lebanon are at the reasonable level of $540/mt CFR, Lebanese buyers have no interest in ex-China rebar due to sales difficulties and longer lead times.