According to sources, a Turkish Izmir region-based mill has recently sold a mixed longs cargo to the US. Around 20,000 mt of rebar were traded at $660/mt FOB, while 4,000 mt of wire rod – at $750/mt FOB, SteelOrbis is told. However it has not been possible to confirm the same either through the supplier or the buyer. The reported price is below the current reasonable ex-Turkey rebar sales price for US market. That said, some market players insist they believe it is an achievable rebar price under the current market conditions.
The given prices are also below the general export prices, where the rebar is standing at $670-680/mt FOB for October shipment and wire rod is at $775-780/mt FOB. As a result, it is safe to say that some Turkish mills are giving discounts to generate sales amid the silence in the international longs buyer demand.