Rebar import business activity in Lebanon has been sluggish lately, though there is a chance for some improvement as the market seems to be nearing the bottom.
Turkey remains the most active supplier to Lebanon with the latest offers heard at around $410-420/mt CFR for October shipments; some sources indicate that levels $10/mt lower might be also available. Greek rebar is available as well, but as compared to the Turkish offers the prices are not competitive at €415-420/mt FOB ($456-461/mt FOB) for October-November shipments. Accordingly, it will be safe to say Lebanese buyers are not showing interest in European rebar offers. In the meantime, Iranian origin rebar remains present in the market, with sources reporting the price at $370/mt CFR.
Rebar stock levels are at around medium levels in Lebanon, which can result in some restocking activity in the near future. Moreover, it is believed that the market has finally seen the bottom since there are some cautiously positive sentiments in Turkey’s import scrap segment, SteelOrbis understands. However, the size of the demand from Lebanon, which has already been reduced due to some internal economic reasons, may further shrink in the short run amid seasonal factors. According to some sources, rebar consumption in Lebanon this year is expected at 400,000-500,000 mt versus around one million mt two years back.
€1 = $1.09