SteelOrbis has been informed that Turkish
rebar offers to the export markets have increased by another $10/mt week on week to $450-455/mt FOB, following the latest import scrap deals concluded at $276/mt CFR in the Turkish market this week.
Market players state that increasing imported scrap and iron ore prices continue to support Turkish producers' finished steel export offers. However, the improvement seen in
rebar demand in the Turkish domestic market has not been observed in the export markets.
On the other hand, Turkish producers'
rebar offers to the UAE market are currently in the range of $435-445/mt CFR, on theoretical weight basis. In the current week, two steelmakers in
Turkey's Izmir region have concluded deals to Dubai for 20,000 mt and 40,000 mt
rebar, respectively. Meanwhile, Turkish
rebar exporters are expected to conclude more transactions to the Iraqi, Egyptian and UAE market in the coming week. Market sources believe that buyers will find Turkish
rebar offers more attractive specifically due to the decision of
local producer ESI keep its prices unchanged this month.