SteelOrbis has been informed that Turkish producers'
rebar prices to the export markets have remained unchanged over the past week in the range of $465-475/mt FOB. Market sources state that demand for Turkish
rebar in domestic and foreign markets have been sluggish in the same period.
Turkish producers'
rebar offers to the UAE market have increased by $5/mt on the upper end over the past week to the range of $455-460/mt CFR, on theoretical weight basis. No new ex-
Turkey rebar deals have been heard in the UAE market after the conclusion of three sales transactions last week. UAE-based buyers are waiting for Emirates Steel Industries (ESI) to announce its new price levels. It is reported that, if ESI increases its prices by more than $10/mt, buyers in the UAE will continue their purchases from
Turkey.
Meanwhile, only deals for small
rebar tonnages have been heard from
Turkey to Central America and South Africa at $475/mt FOB on actual weight basis. Turkish
rebar offers to the US have decreased by $5/mt on the upper end during the past week to $465-475/mt CFR US Gulf ports on theoretical weight basis. However, transaction activity for
rebar imports in the US has been slack during the past week. US buyers report that offers on the lower end of the above price range are unavailable in the market, while they are unwilling to conclude deals at the upper end and so they prefer to postpone their
rebar purchases. Meanwhile, deals for small tonnages have been heard from
Turkey to Syria and Iraq at $470-480/mt ex-works.