Turkish mills are keeping their longs export prices unchanged for now, given the relative stabilization of import scrap price levels and the persistent lack of international demand. In addition, sellers from North African countries remain competitive and Turkish mills would have to grant sizeable discounts in order to conclude transactions. In this situation, mills prefer not to make any aggressive moves, at least for now.
Realistic Turkish rebar export offers are standing at $580/mt FOB for September-October shipments, unchanged from last week. In the local market, most rebar producers in the Marmara region have kept their official rebar offers stable at $590-600/mt ex-works, including Icdas A.S., in order to be on the safe side and offset the currency fluctuations. However, the general sentiment on the demand side is negative and import scrap prices are not supportive. One Iskenderun-based mill has issued its rebar price today at TRY 19,000/mt ($593/mt) ex-works, with an exchange rate of $1 = TRY 26.70.
In the wire rod segment, ex-Turkey offers are available at $590-600/mt FOB for September-October shipment, again stable from a week ago. In the local Turkish market, the general price range varies at $590-615/mt, rising by $10/mt on the higher end over the same period. Kardemir has issued its SAE 1008-1010 grade 6-27 mm wire rod price at $585/mt ex-works today.