Steel business activity in Lebanon remains very subdued due to the economic and financial crisis, coupled with currency problems. Domestic stock levels of long products are reported to be at low to medium levels depending on the trader, while import activity in the country is minimal.
Currently, retail rebar prices in Lebanon have settled at $710-750/mt CPT excluding VAT. Ukrainian rebar has been available in Lebanon at $800/mt CFR Beirut, while offers for rebar of ex-UK origin have been reported at a minimum of $780/mt CFR. In addition, last week ex-Turkey rebar offers were standing at $760-770/mt CFR Beirut for July shipment. However, no fresh rebar sales have been heard for now.