Turkish mills are aiming to keep their longs export prices stable amid costlier import scrap and concerns that energy prices may rise soon. However, international buyers are taking their time before concluding new purchases and are monitoring the import scrap price trend, while demand seems negative due to the economic unrest in the Europe and with Ramadan about to start, though rebar sales are possible to Syria and Yemen. Most probably Turkish mills will start negotiations next week for the new EU quota period which begins on April 1.
Turkish rebar producers have kept their rebar prices stable week on week at $565-570/mt FOB for late March and April shipments. However, the firm asking prices seem to be closer to $550-555/mt FOB, down by $10/mt from a week ago. No fresh rebar sales have been heard by the time of publication. According to sources, ex-Turkey fresh rebar offers vary at €560-565/mt ($587-592/mt) CFR the Balkan region with an estimated freight of €15/mt ($16/mt), which equals around $570-575/mt FOB Turkey, SteelOrbis has heard.
In the local Turkish rebar market, official offers and workable prices have settled at $550-580/mt ex-works depending on the region, down by $10/mt on the lower end over the past week. In the Izmir and Marmara regions specifically, the levels are at $545-565/mt ex-works, also down by $5/mt on the lower end over the same period. It is worth mentioning Turkish mills have started testing $550-570/mt ex-works following the relatively positive sentiment in the import scrap price segment and also ahead of Ramadan. In addition, an Iskenderun-based Turkish mill has set its official rebar price today at TRY 24,750/mt ($566/mt) ex-works with an exchange rate of $1 = TRY 36.44, for an extended delivery period, up by TRY 750/mt ($15/mt) week on week.
In the wire rod segment, most Turkish mills are still offering at $570-580/mt FOB, for late March-April shipments, unchanged week on week. In addition, the workable Turkish domestic wire rod prices vary at $555-575/mt, also unchanged over the past week.
.jpeg)