Although in general Turkish mills are trying to maintain their export offers for longs relatively stable since scrap prices are not decreasing, some sellers have decided to soften their price ideas a little in order to attract the attention of buyers. Still, Turkey’s offers are somewhat on the high side for buyers in nearby destinations, given the competitive offers coming from North Africa but also from Russia. In addition, in the Turkish domestic rebar market prices have decreased over the past week.
The official export rebar price offers from Turkey are still at $580/mt FOB for late September and October shipments, while some large mills are ready to consider $570/mt FOB levels now. A fresh 4,000-5,000 mt mixed rebar and wire rod sale has been reported to Israel at $580/mt and $590/mt FOB, respectively. Russia’s offers to Israel have been circulating in the market at around $560-570/mt FOB, SteelOrbis has learned. In the meantime, the official offers for rebar and wire rod from the leading Egyptian exporter are at $575/mt FOB for October shipments.
In the local rebar market, official rebar prices in the Izmir and Marmara regions vary at $570-595/mt ex-works, including Icdas A.S, versus $590-600/mt ex-works last week. According to sources, a small tonnage of rebar has been traded at $570/mt ex-works in the Izmir region today, September 6. One Iskenderun-based mill issued its rebar price at TRY 18,650/mt($580/mt) ex-works yesterday, with an exchange rate of $1 = TRY 26.78.
In the wire rod segment, ex-Turkey wire rod offers are standing at $590/mt FOB for September-October shipment, versus $590-600/mt FOB a week ago. In the local Turkish market, the general price range has remained unchanged at $590-615$/mt ex-works. It is worth mentioning that Kaptan Demir Celik has recently produced its first wire rod at a new mill and has initiated its trial production process.