According to market sources, Turkish rebar offers to the export markets have remained unchanged since last week at $565-575/mt FOB on actual weight basis. Demand has mainly remained slack in both the domestic and export markets since last week. Meanwhile, Turkish producers have accelerated their scrap purchases for June shipment, while import HMS I/II 80:20 scrap prices for Turkey are at $370-375/mt CFR.
Demand has shown most improvement in the UAE rebar market since last weekend, while it is reported that rebar deals totaling 75,000 mt from Turkey to the UAE have been concluded at $575-582/mt CFR on actual weight basis and for June shipments.
On the other hand, market sources say that demand in the Egyptian rebar market is very low, with buyers postponing their purchases ahead of the presidential elections on May 26-27.
There has been a slow improvement in transaction activity in Iraq, Turkish rebar producers' main export market, during the past week, while a producer from Turkey's Iskenderun region has concluded a deal for 10,000-15,000mt of rebar at on average $585/mt ex-works to the Iraqi market.
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