The current period is a challenging one for Turkish
rebar producers, and especially with regard to exports. With both local and export demand showing weakness and with market prices continuing to decline gradually, Turkish
rebar producers have been revising their prices downwards each week for the export markets. Turkish
rebar producers' export offers have decreased by $10/mt over the past week to the range of $505-510/mt FOB. However, market sources state that it is possible to conclude transactions below this price range.
In the current week,
rebar offers of Turkish producers to the UAE have declined by $20/mt to $510-515/mt CFR, on theoretical weight basis. Turkish
rebar export offers have continued to decline due to UAE buyers' expectations for lower price levels. Turkish producers cut their outputs due to reasons mentioned earlier, while export offers are unlikely to improve until the New Year.