Early this week, the range of ex-
Turkey rebar offers had widened to $610-625/mt FOB after some positive signals in the steel markets. Due to developments such as improved demand for
rebar and
billet, the increased feeling that prices had already hit the bottom and the conclusion of
scrap deals at high levels to
Turkey, ex-
Turkey rebar offers indicated an increase. Current
rebar export offers from
Turkey have increased on the low end of the price range and now stand at $620-625/mt FOB.
Meanwhile, the volume of price inquiries has risen in the export market. A high volume of price inquiries has been heard from the
Middle East, while
rebar demand has increased in
South America and
Africa. Buyers in the export markets, who have increased the levels of their firm bids, are now ready to pay $615/mt FOB for ex-
Turkey rebar, on actual weight basis. In the meantime, it is expected that the number of
rebar transactions will start to increase as of the start of next week.