Yemeni buyers delay rebar purchases in anticipation of lower prices

In the Yemeni domestic market, where rebar demand has remained on the weak side, local buyers have been postponing their purchases amid expectations of a downward price trend. Meanwhile, Turkish steelmakers are offering rebar to Yemen at the price level of $615/mt CFR on theoretical weight basis, for December shipment.
 
Ex-China rebar offers to the region, on the other hand, are standing at $550/mt FOB on actual weight basis. These low Chinese origin rebar offers have not yet gained the acceptance of Yemeni buyers, who prefer to wait and see if there will be further declines in ex-China offers.