Turkish mills are attempting to keep their official longs prices firm, citing high production costs, while most international buyers are exerting pressure for further discounts. Due to the ongoing tensions in the Middle East, most Turkish mills are still focusing on nearby countries, such as those in Europe.
Currently, ex-Turkey rebar offers are available at $590-600/mt FOB for late March-April shipments, stable over the past week. When the sluggish international demand is taken into account, slightly lower levels might be on the table for serious buyers, according to SteelOrbis. Sources report a few inquiries are heard from Germany, while some demand may be seen also from Romania and Bulgaria. In addition, buyers’ rebar bids are at around $580-585/mt FOB depending on the region and tonnage, sources report. According to sources, a small tonnage of rebar was traded to Albania and Serbia at these price levels, i.e., $580-585/mt FOB, at the end of last week.
In the Turkish domestic market, most mills in the Izmir and Marmara regions are offering rebar at $600-620/mt ex-works, versus $600-615/mt ex-works a week earlier, while additional $5-10/mt discounts are applicable for serious buyers only. Due to Ramadan, local demand is silent, also influenced by the ongoing currency fluctuations and the unclear financial situation in the country.
In the wire rod segment, offer levels are at $605/mt FOB for late March-April shipments, down by $5/mt week on week. Turkish official domestic wire rod offers vary at $610-640/mt ex-works, while the higher end seems difficult to achieve when wire rod export prices are taken into account. Kardemir has been offering its 6-27 mm SAE 1008-1010 grade wire rod at $620/mt ex-works since Thursday, February 29.
.jpeg)