SteelOrbis has heard from market sources that iron and steel consumption in
Yemen has decreased significantly amid the heightening of political tensions in the country. However, Yemeni buyers state that Turkish exporters continue to offer
rebar to the Yemeni market, with their prices declining by $10/mt week on week to $470-475/mt CFR, on theoretical weight basis. It is also reported that Turkish exporters are busy carrying out deliveries of
rebar previously purchased by Yemeni buyers at higher prices.
Meanwhile, China, one of the most important
rebar suppliers, currently does not have much of a presence in the Yemeni market since Turkish
rebar offers have weakened and are now very close to ex-China offer price levels