The demand for rebar in Middle East in 2009 can drop by 60%. According to the manufacturers’ words such forecast can be explained the demand decrease for steel products in the region, which causes rebar output slump.
Today Turkish rebar is offered at $395 per ton, however, buyers do not hurry to make new requests. At that the market participants can not even say when to expect the situation improvement.
Today Turkey supplies the biggest quantities of rebar to Middle East. Turkey is the one of the world biggest ferrous scrap consumers.
Turkish steel enterprises in the beginning of Dec. 2008 set rebar prices at the level of $485 per ton. The dealers reduced the prices for these products to $425 per ton.