Yemeni rebar demand continues to grow

The gradual revival which has started to be seen in the Yemeni domestic rebar market has continued this week, while the increase in the volume of inquiries from Yemeni rebar importers has also continued.
 
Last week, Turkish rebar offers to Yemen were standing at $630-635/mt CFR on theoretical weight basis. Moving to this week, Turkish rebar offers have strengthened by about $10/mt  in line with the current uptrend in the long steel market in general this week to $640-645/mt CFR on theoretical weight basis, for September shipments. According to market sources, Yemen's current rebar demand is above 10,000 mt and Turkish rebar transactions to the country are expected to reach 40,000-50,000 mt in August.