Rebar prices fall slightly in Israel

In the Israeli domestic rebar market this week, local prices have softened by about $10/mt to $780-790/mt ex-works, on actual weight basis, for advanced payments, exclusive of 16 percent VAT.
 
Activity in Israel's construction industry has slowed down recently, as the rainy weather has again influenced the country, causing rebar demand to regress slightly. In the meantime, some rebar demand still exists in Israel on the back of the continuing construction projects. Domestic rebar demand is expected to return to normal levels once the weather gets better.
 
In the meantime, Turkish mills' rebar offers to the Israeli market have declined to $690/mt CFR on actual weight basis this week, from last week's $700/mt CFR. However, finding this price level to be on the high side, Israeli buyers have not concluded any transaction at this price level.
 
Anticipating prices will show some further softening, Israeli buyers are currently adopting a wait-and-see stance.