Turkish rebar offer prices soften in Yemen

Turkish producers' rebar offers to the Yemeni market are standing at $610-615/mt CFR on theoretical weight basis, for shipments in late April and in May, indicating a decline of $10-15/mt since last week. Turkish origin rebar has been attracting demand in the Yemeni domestic market, while about 75,000-80,000 mt of rebar will be shipped to Yemen from Turkey late in the current month.
 
Meanwhile, Chinese rebar offers to Yemen can be found at $600/mt CFR on actual weight basis. Local market sources state that these offers are about $40/mt less expensive than the Turkish rebar prices and this may negatively influence demand for Turkish rebar offers in the coming period.