Most Turkish rebar producers are squeezed by sluggish international demand, while the weaker import scrap prices are another negative factor. Most rebar producers are eager to conclude rebar export sales, while most buyers in the Balkan region are exerting pressure for further discounts. In addition, the adverse weather condition in Turkey and the delays in payments by the Housing Development Administration of the Republic of Türkiye (TOKİ) have also dragged down the demand received by contractors. As a result, it seems difficult to compensate for the weak rebar export sales activity with domestic rebar sales.
Currently, Turkish rebar export prices vary at $570-580/mt FOB, down by $5/mt on the lower end week on week, for December-January shipment. A few mills are even testing $565/mt FOB and slightly below for serious buyers, SteelOrbis has heard. "Even though Turkish mills quote $570/mt FOB, most international buyers think this price level is not workable," one source commented. "Although a few inquiries are being received from the Balkan region, they are taking their time before concluding new purchases and are also evaluating Northern African suppliers’ rebar offers," another source claimed. No fresh rebar sale has been heard by the time of publication.
In the Turkish domestic rebar market, the workable rebar prices have fallen to $580-585/mt ex-works, in the Marmara and Izmir regions, including Icdas A.S., down by $10/mt week on week. In addition, an Iskenderun-based mill has issued its official rebar price at TRY 24,000/mt ($577/mt) ex-works, down by TRY 500/mt ($12/mt) from the previous day, according to today’s exchange rate of $1 = TRY 34.65. The mill's rebar price has indicated a TRY 1,000/mt ($27/mt) decrease week on week.
In the wire rod segment, most Turkish mills are offering at $580-590/mt FOB for December-January shipment, down $10/mt over the past week. In addition, workable Turkish domestic wire rod prices vary at $585-600/mt ex-works, also down by $10/mt over the same period.