Turkish long steel mills are not actively pushing to sell in the export segment as most international buyers are maintaining a wait-and-see stance and are postponing their purchases until after the New Year holidays. As a result, Turkey’s longs export market is expected to gain clarity after January 8. During this period, most mills are seeking to keep their official longs prices stable both in the domestic and export markets, while some have decreased their prices. However, it is worth mentioning that sizeable discounts are available for serious buyers supported by the recent price fall in the import scrap segment.
Currently, ex-Turkey rebar offers are standing at $590-600/mt FOB for late January-February shipments, falling by $10/mt, which is in line with the downtrend seen in the import scrap segment. In the Turkish domestic rebar market, most mills in the Izmir and Marmara regions are offering at $590-620/mt ex-works, versus $620-635/mt ex-works a week ago. Most local buyers are also taking their time before purchasing and are monitoring the import scrap price trend, thinking that the market will weaken further.
In the wire rod segment, offers vary in the range of $610-620/mt FOB for late January-February shipments, also down by $10/mt over the past week. In the Turkish domestic wire rod market, the general price range is at $605-650/mt ex-works and Kardemir's price for 6-27 mm wire rod of SAE 1008-1010 grade is stable at $635/mt ex-works. According to sources, Kardemir's wire rod price is not workable under the current market conditions, and so the lower end of the general price range seems workable.