Ex-Turkey rebar prices move down further

Tuesday, 27 August 2019 15:50:28 (GMT+3)   |   Istanbul
       

Ex-Turkey rebar prices for late September and October shipments have moved down against the backdrop of the lower import scrap prices fixed in the latest transactions. Currently, according to the market sources, foreign buyers can purchase rebar from Turkey at $435-445/mt FOB, while last week most Turkish mills were standing on $445-450/mt FOB in their initial offers. The mills’ rebar pricing lacks support from international customers, resulting in lower deal price levels for limited volumes. Market sources indicate that a 5,000 mt rebar sale has been closed at $435-440/mt FOB for prompt shipment to the EU. Moreover, Turkey’s export offers are expected to remain under pressure in the coming days, SteelOrbis understands.


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