According to market sources,
rebar offers from
Turkey to the Yemeni market are currently at $485-495/mt CFR, on theoretical weight basis, indicating a decline of $35-40/mt over the past three weeks amid falling scrap prices, weakening demand and softening global
rebar prices. Strong political tensions continue to observed in
Yemen, while demand for import products in the country has failed to improve in the same period.
Meanwhile, market sources state that no new offers from China, another import
rebar supplier to
Yemen, have been heard. However, last month the latest offers from China to
Yemen were in the range of $470-475/mt CFR, on actual weight basis. Chinese suppliers continue to check whether Yemeni buyers need to conclude any purchases and so it may be possible to hear new Chinese
rebar offers to the Yemeni market in the coming period.