CIS-based long steel producers have followed the uptrend seen in the Turkish market and have increased their export offers quite significantly over the past couple of weeks. Earlier producers were focusing on domestic sales due to favorable price levels, while today export sales prices are also considered quite acceptable.
Currently, ex-CIS rebar offers are standing at $740-745/mt FOB, up by around $50-60/mt since early May. Mills are mainly looking into sales to the EU, where prices have been showing some steady uptrend. Turkey’s rebar offers have been reported at $750-760/mt FOB, again to the EU and with medium-sized sales fixed.
In the wire rod segment, CIS-based producers are offering $830-850/mt FOB with some lower indications also reported by the buyers. Demand has been coming mainly from the EU and some Latin American countries, SteelOrbis has learned. Wire rod prices have indicated around $100/mt increase since earlier in May, SteelOrbis estimates.
