Iraqi crisis and approach of Ramadan impact Turkey’s rebar exports

Friday, 27 June 2014 15:43:01 (GMT+3)   |   Istanbul
       

Market sources inform SteelOrbis that Turkey's rebar export offers have indicated no changes since last week, remaining at $560-570/mt FOB on actual weight basis. However, if Turkish mills receive demand from buyers, they are showing a willingness to negotiate on their quotations, while ex-Turkey rebar offers have room for downward movement in the coming period.
 
Over the past two weeks, import rebar bookings for July shipments have been completed in the UAE and the Yemeni markets. This week demand for Turkish rebar is strong in the South American markets, whereas new ex-Turkey rebar deals are expected to be concluded in the days ahead at price levels of $555-565/mt FOB to the region in question.
 
In the meantime, demand in Turkey's export markets has started to slow down because of the ongoing crisis in Iraq and the approach of Ramadan, while these factors will likely prevent export activity from registering an improvement during the summer period. 

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