SteelOrbis has been informed that in the current week rebar offers from Turkey to the export markets have been in the range of $490-500/mt FOB. Recently, scrap import prices which are considered to be on the high side at $300-310/mt CFR provide cost support for Turkish rebar export offers. On the other hand, with Belarus-based Byelorussian Steel Works (BMZ) launching a billet export tender at $380/mt FOB, market players are wondering if billet prices will trend downwards again.
Market sources state that since October the US has been one of the most active markets in terms of demand for Turkish rebar exports, while almost every Turkish exporter is focusing on US buyers, with their sales to the US continuing. Meanwhile, rebar sales have been concluded for small tonnages from Turkey to markets in the Middle East and North Africa, especially to Egypt, Israel and Iraq, while prices are generally shaped by the buyers in these countries.