The import market of long products in Lebanon has been trying to find its way in adjusting to overall price volatility and the long-haul financial issues in the country, particularly the currency-related ones. As a result, lower offers are preferred and these are mainly coming from Russia and Belarus, while Turkey’s indications are higher. Moreover, Lebanese buyers report that the mentioned aggressive sellers are quite active, taking into account they have been cut out of the EU markets by the sanctions.
While a few Turkey-based mills are at around $660/mt FOB now or close to $690/mt CFR, there has been a deal closed for Belarus origin at $675-680/mt CFR Beirut. The latest ex-Russia offers have been reported at around $580/mt FOB with the estimated freight around $65/mt.
The retail rebar prices are standing at $700-710/mt CPT including 11 percent VAT, while the contractor’s rebar price is available at $720-730/mt CPT including 11 percent VAT. “Retail rebar prices are crazy amid the sluggish demand and aggressive pricing strategy,” a source told SteelOrbis.
In the Lebanese wire rod segment, local retail wire rod prices are available at $750/mt CPT including 11 percent VAT, while a few ex-Turkey wire rod offers are standing at $700/mt FOB, the estimated average freight is around $20-25/mt.