Ex-Turkey rebar export prices

SteelOrbis has been informed that Turkish mills are offering rebar for export at the levels of $430-460/mt FOB Turkey on actual weight basis for December shipment. Turkish producers have revised their prices to the abovementioned levels following the latest scrap deals to Turkey. Rebar price levels in the Turkish export market were at $1,380/mt FOB in late July; however, the prices have been decreasing since then, down to $380/mt last week. It is heard that last week and early this week there have been deals for containers and varied tonnages at levels below the abovementioned range of $430-460/mt FOB. If the new price levels of the Turkish producers are accepted by the international markets, increased momentum may be seen in the local Turkish rebar market.