According to market sources, Turkish
rebar export offers have remained stable at $450-455/mt FOB during the past week. The rapid and continuous upward movement of import scrap prices and expectations of improvement in market prices due to this trend have provided support for Turkish producers in keeping their export offers at the current range. Also, the significant appreciation of the US dollar against the Turkish lira in recent days has provided an advantage for Turkish exporters, increasing their margins in foreign markets.
Meanwhile, demand for Turkish
rebar in the
UAE,
Yemen and
the US markets, which are the most important destinations for Turkish producers in terms of large-volume
rebar sales, has not been so lively this week. However, market sources state that various inquiries have been heard this week from Egypt, Israel, Iraq and Ethiopia for Turkish
rebar, especially in the Iskenderun region. It is reported that an Iskenderun-based Turkish steel producer has sold 5,000 mt of
rebar to Egypt at $453-455/mt FOB this week, while another Turkish producer has received an inquiry from Ethiopia for 8,000 mt of
rebar, but this inquiry has not resulted in a transaction yet.