As SteelOrbis has heard from market sources, Turkish rebar export offers are now standing in the range of $580-590/mt FOB on actual weight basis, decreasing by $10/mt since last week due to weak demand. Apart from increasing tension over Syria and the ongoing political turbulence in Egypt, the antidumping petition filed by US mills against Turkish rebar has contributed to the overall pessimism on the export side. Therefore, export prices are not expected to move upward in the coming days.
Meanwhile, this week ex-Turkey rebar deals have been concluded in the local UAE market at the level of $595/mt CFR on theoretical weight basis, while deals for Turkish rebar have also been concluded in Iraq at $600/mt ex-works from the Iskenderun region. Transaction levels in Iraq for Turkish rebar have indicated slight downticks as compared to last week.
Weekly price movements of different steel products in major markets can be viewed comparatively in the SteelOrbis Historical Steel Prices section. Market trends can thus be seen more clearly, while desired charts can be created and used in reports or presentations.