Lebanese longs importers continue to operate in tough market conditions since the expectations of a demand boom linked to the reduction in tensions in the region have not yet materialized. In addition, prices have been trending upwards globally and so importers from Lebanon still prefer to deal for the cheapest origins, which are Russian and Iranian. Material from Arab countries is also under negotiation since these origins are not subject to import tax in Lebanon.
In particular, Egyptian and Algerian rebar is currently available at $610/mt CFR, local sources report. The latest known purchases were made from Egypt a couple of weeks back at around $550/mt FOB for around 10,000-15,000 mt, while currently the price is at $570-575/mt FOB for both rebar and wire rod from Egypt.
In the meantime, ex-Iran offers for deliveries via Turkey have been reported at $585/mt CPT, marking the lowest price in the market. Ex-Russia prices have also remained attractive in Lebanon. Russian offers have been reported at $590/mt CFR Tripoli.
Currently, ex-Turkey rebar offers vary at $580-590/mt FOB for late March-April shipment, while wire rod prices vary at $585-595/mt FOB, also for late March-April shipment. Freight costs are mostly stable at $15-20/mt from Turkey to Lebanon for small tonnages.
In the domestic retail market in Lebanon, ex-North Africa rebar offers are standing at $610/mt ex-warehouse.