According to market sources, rebar offers from Turkey to the export markets have remained unchanged since last week at $565-575/mt FOB on actual weight basis. Demand in the export markets has been slack this week, while buyers have adopted a wait-and-see approach due to the uncertainty surrounding the movement of scrap prices.
Ex-Turkey transactions in Yemen have been heard in the range of $580-585/mt CFR this week. Meanwhile, market sources state that demand in the Iraqi market has started to improve and ex-Iskenderun rebar deals have been concluded at $580-585/mt ex-works over the past week. Market sources report that demand from Egyptian buyers for Turkish rebar has been slack and offers which are currently at $565-575/mt FOB are expected to be revised downwards.
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