Turkish mills are offering rebars to the Europe at $635-640/mt FOB on actual weight basis for June loadings. Offers for some Middle East countries and to Baltic countries that do not require homologation certificates are at around $610/mt FOB. Offers for the UAE are at $630-635/mt CFR on theoretical weight basis.
Despite the softening scrap prices, for the time being the Turkish mills are restraining any impulse to reduce their prices so as not to panic European customers - since the European domestic market is still strong and the €/$ and £/$ exchange rates are high. However, most customers who are trying to monitor the scrap market prefer to wait and see how the future trend develops.