Turkey’s rebar export prices have moved up over the past week to the range of $445-450/mt FOB, for January-February shipments. Turkish producers are struggling to reflect higher scrap costs in their rebar export offers due to limited international rebar demand. Turkish mills are focusing on Israel, Yemen and the Africa market for rebar exports these days. Market sources indicate that demand in Yemen for Turkish rebar has been lively this week. As a result, an Iskenderun-based mill has concluded a deal to Yemen for 10,000-15,000 mt of rebar at around $448/mt FOB Turkey on actual weight basis and for February shipment. In addition, it is rumored that a mill in the Marmara region has concluded a sale to Israel at the beginning of the current week for 11,000-12,000 mt of rebar at $445/mt FOB, for January shipment. Some market rumors indicate that a few rebar deals have been concluded by Izmir-based producers to Yemen, Israel and Africa, but details of these transactions have not been disclosed.
In the wire rod segment, export prices from Turkey are available at $475-480/mt FOB for January-February shipments. On December 11, the remaining EU quota for Turkish wire rod was 46,176 mt. Meanwhile, demand in the EU for Turkish wire rod is at low levels due to more attractive domestic wire rod quotations in the region. Sources say that demand for Turkish steel wire remains strong in the EU, with a remaining quota of 22,239 mt for steel wire from Turkey. Market sources indicate that Turkish steel wire producers are trying to conclude sales in the short term due to the approaching holiday period in the EU.