According to market sources,
Turkey's
rebar export offers are currently standing in the range of $560-570/mt FOB on actual weight basis, softening by $5/mt week on week. Foreign buyers in
Turkey's
rebar export markets have been expecting a decline in the offers amid signs of softer import scrap prices for June shipments to
Turkey and weaker demand for Turkish
rebar from the Middle Eastern and North African markets with the approach of the Ramadan period. This situation makes it hard for Turkish mills to keep their prices firm.
It may be difficult to observe positive developments in
Turkey's export markets during the summer period, while ex-
Turkey rebar transaction prices could soften to $555-565/mt FOB for July shipments.
During the past week, Turkish
rebar deals have been concluded in the
UAE and the Yemeni markets in the range of $560-565/mt FOB on actual weight basis. Meanwhile, the overall transaction volume to the Iraqi market has remained on the weak side this week, while
rebar offers from
Turkey's Iskenderun region to the country are at $585/mt ex-works.