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Rebar prices skyrocket in Jordan        

In February of this year,  the upward trend is strengthening in the Jordanian rebar market, following the positive developments in the global steel market, specifically in the semis and scrap segments, as long-steel demand has improved in the country amid a gradual revival of construction projects.

Most Jordanian rebar mills offer their products locally at between  JOD 625 and 640/t ($881/902/t, 1 JOD = $1.41) EXW with 16% sales tax against JOD 590 and 600/t ($830-846/t) in January. Rare producers are still ready to supply lower levels, down to 615 JOD/t ($867/t) EXW.

In general, the price excluding tax is estimated between 539 and 552 JOD/ton ($760 and $778 per ton) EXW.

Saudi Arabia, the main foreign supplier of the billet, reviewed its pricing, pushing it up to $645/ton EXW versus $625/ton EXW three weeks ago. Despite the increase, Saudi producers are delaying the closing of deals.

Over the week, prices for scrap in Jordan increased by around JOD 20/t ($28/t).

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