Coronavirus woes in Turkey, Qatar could lead to increase in rebar flows to Asia again

Mounting pressure on Turkish and Qatari steelmakers caused by the novel coronavirus (2019-nCoV) outbreak may lead to an increase in rebar flows from these countries to Asia again, market sources in Singapore told Fastmarkets.

"There is a sense that producers in Turkey and Qatar are looking to sell their cargoes more urgently due to a lack of outlets in their neighboring countries," an industry source in Singapore told Fastmarkets on Thursday March 12.
The increased urgency of the sellers to offload material has resulted in less interest from buyers for imported cargoes, who are content to wait for lower prices amid the global spread of the 2019-nCoV pandemic.

Turkey reported its first 2019-nCoV infection on March 11, after a Turkish citizen contracted the virus while on holiday in Europe. The country confirmed its 18th case on Monday March...


Paul Lim

March 16, 2020

09:00 GMT