SteelOrbis has learned from market sources that Turkish rebar offers to the export markets have remained unchanged since last week and are still at $565-575/mt FOB. Market sources state that demand in the Iraqi and Egyptian markets for Turkish rebar has increased in the last two weeks, while several transactions have been concluded to Iraq and Egypt in ranges of $580-585/mt ex-works and $570-580/mt FOB, respectively.
Turkish producers' rebar export prices are also expected to remain unchanged next week, while offers higher than $565-575/mt FOB are not likely to be accepted due to low demand in the export markets. Additionally, producers are trying to maintain a strong stance on rebar export prices in the above range amid expectations that the rise in import scrap prices will slow down gradually in the short run.
On the other hand, the US Department of Commerce's announcement of its preliminary determination in the ongoing investigation concerning Turkish and Mexican rebar is due to be made on April 18 and the result is expected to influence sentiment in the rebar export market. Market sources inform SteelOrbis that ex-Turkey rebar offers to the US are at $600-610/mt CFR on theoretical weight basis and that transactions are concluded taking countervailing duty into account.
Weekly price movements of different steel products in major markets can be viewed comparatively in the SteelOrbis Historical Steel Prices section. Market trends can thus be seen more clearly, while desired charts can be created and used in reports or presentations.