Markets sources indicate that Turkish rebar export prices have followed a sideways trend since last week at $590-600/mt FOB.
Meanwhile, a Turkish mill has offered rebar to Saudi Arabia at $595/mt CFR, and this will likely be translated into a deal at $590/mt CFR. Ex-Turkey rebar prices are expected to decline to the range of $580-590/mt FOB in the coming period amid poor demand. The Turkish rebar export market is facing difficulties due to the decline in international steel markets and buyers' pursuit of lower prices.
