As market sources have reported, Turkey's rebar export offers have softened by $5/mt on the upper end since last week to $560-570/mt FOB on actual weight basis. Some ex-Turkey rebar deals have been concluded over the past week in Yemen and in the UAE market at price levels of $560-565/mt CFR and at $570-580/mt CFR, respectively, on theoretical weight basis and for shipments in late February-early March. Meanwhile, rebar offers from Turkey's Iskenderun region to Iraq have remained unchanged this week at $575-580/mt ex-works. Demand for Turkish rebar in the local Iraqi market is still on the weak side, while strong political tensions in Iraq have prevented import rebar demand from picking up.
Markets sources indicate that no positive developments have been observed during this week on the export side, while Turkish mills are seeking to maintain their current export prices in the poor demand environment.
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