Because the rebar importers in Egypt have slowed their pace to purchase recently and lasting slack demand for rebar on the Middle East market, Turkish mills have slashed the exported rebar offer last week.
In addition, with the declining exported rebar price, the Turkish domestic rebar price was also on the slide.
Last week, the sources said that Lebanon government was speeding up the infrastructure construction and will probably turn its eye onto the Turkish resources. Currently, Turkish mills offer US$470/ton for rebar to UAE and market participants said that the price had reached the bottom.
To sum up, the Middle East rebar market is still quiet as a whole on weak demand. Source: Yieh.com