Rebar trade remains subdued in Lebanon

Tuesday, 16 November 2021 17:42:13 (GMT+3)   |   Istanbul

Steel business remains challenging in Lebanon since the importers continue suffering from the tough financial situation and currency-related constraints. The government tries to control currency operations since the Lebanese pound has lost over 90 percent of its value since 2019. As a result, rebar transactions from Turkey to Lebanon have been limited for a while now with only sporadic deals reported.

Retail rebar prices in Lebanon are at $795-825/mt CPT including 11 percent VAT. Turkish rebar export prices are standing at $740-750/mt FOB for December-January shipments. Sources report small lots of rebar were traded to Lebanon at $740/mt FOB early last week. The average freight rate from Turkey to Beirut is around $20/mt, SteelOrbis estimates.

According to sources, domestic ex-warehouse wire rod prices in Lebanon are at around $860-880/mt CPT, including VAT. No fresh ex-Turkey wire rod offers have been heard for now.

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