According to market sources, rebar offers from Turkey to Yemen have softened by $15/mt over the past two weeks to $545-555/mt CFR, on theoretical weight basis, while demand has been sluggish. The political tensions in the country have also disrupted steel trade activity.
It has been heard that the latest rebar deal to Yemen from Turkey in the past week was concluded for 40,000 mt at $545-550/mt CFR, on theoretical weight basis. However, Yemeni importers continue to seek further discounts from Turkish rebar producers as import scrap prices in Turkey continue to decline and as the volume of cheaper ex-China rebar offers for Yemen has increased.