Ex-Turkey longs prices increase due to costlier scrap

Wednesday, 05 October 2022 17:08:58 (GMT+3)   |   Istanbul
       

Squeezed by further increases in energy costs, Turkish longs exporters have decided to raise their prices, citing firmer import scrap deal price levels in Turkey and relatively better demand.

Currently, Turkish rebar export prices vary at $690-720/mt FOB, versus $680-700/mt FOB a week ago, while the higher end seems a somewhat difficult to achieve for now. Some inquiries have been received from Latin America, though no deals have been reported by the time of publication. In the local Turkish market, Kardemir succeeded in selling around 21,500 mt of rebar at $700/mt ex-works earlier today, October 5. Most mills in the Izmir and Marmara regions are offering rebar at $700-715/mt ex-works, rising by $10-15/mt over the past week. According to sources, slightly lower levels are also available, but for serious buyers only.

In the wire rod segment, a few mills are offering wire rod at $730/mt for late October-November shipment, rising by 10/mt over the same period and slightly higher levels are available as a few mills are seeking to be on the safe side amid increased production costs. No fresh wire rod sale has been heard for now.


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