Turkish
rebar export offers have declined by an average level of $13/mt during the past week and have started to range at $435-445/mt FOB. Meanwhile, Turkish
rebar offers to the
UAE have declined by $10/mt since last week to the range of $440-445/mt CFR on theoretical weight basis. Early this week, a Turkish producer concluded several deals in Dubai totaling 30,000 metric tons of
rebar at $435-438/mt CFR, on theoretical weight basis and no other
rebar export deals have been heard.
UAE-based buyers state that they are not planning to purchase Turkish
rebar in the short term since they made sufficient bookings during the past one month and have filled their inventories. Also, demand for
rebar in the
UAE is expected to decrease throughout Ramadan.
Meanwhile, Turkish
rebar offers to the US have decreased by another $10/mt over the past week to the range of $450-460/mt CFR FO US Gulf ports, on theoretical weight basis. However, demand for Turkish
rebar has seen no significant improvement in the US, despite the downtrend in offer prices from
Turkey.