Turkish mills are attempting to maintain their longs export prices at stable levels amid higher production costs, in particular rising natural gas prices in the country. Logistics are also another long-standing issue, with higher freight rates and tight container availability. As a result, shipment at times is more of an issue than finding a customer.
Ex-Turkey rebar export offers have remained unchanged at $750-760/mt FOB for December shipment week on week, and these levels seem a bit difficult to achieve in the international market. Sources report that special discounts are applicable for serious buyers. Around 3,500 mt of rebar have been traded to Israel at $740/mt FOB this week. Another fresh rebar deal to Canada with no details available has been rumored this week.
In the Turkish domestic rebar market, most suppliers are quoting rebar at $740-750/mt ex-works. The producers are trying to keep their official dollar-based rebar prices stable amid the currency fluctuations, the upward trend of production costs and the uncertainty in the country’s financial situation.
In the wire rod export segment, a few Turkish mills have kept their offers at $850-870/mt FOB, for December and January shipment respectively. A lot of 1,500 mt of wire rod has been traded to Israel at $840/mt FOB this week.