Turkey’s rebar export offers have increased by $5/mt on the lower end over the past week to $420-425/mt FOB for December shipments. As overseas demand remains limited, it has been challenging for mills to achieve higher prices in deals, with only small lots being booked. In particular, some 4,000-5,000 mt of rebar were sold to Yemen at $420-425/mt FOB. Around 3,000-4,000 mt were booked by Colombia within the same range. Another 5,000 mt were reported as sold to Israel at close to $420/mt FOB. Lebanon has been quiet as the banking problems there persist and payments are problematic.
In the wire rod segment, export prices from Turkey have remained stable at $445-455/mt FOB for December-January shipments. Sales to Romania were closed for 3,000-4,000 mt at $445-450/mt FOB Marmara for prompt shipment. In addition, $440-445/mt FOB was the transaction price for 1,000-2,000 mt for Colombia. On November 21, the remaining EU quota for Turkish wire rod was 61,925 mt, while European buyers are cautious as regards imports of Turkish products. SteelOrbis has heard that the EU wire rod quota might be exceeded shortly as some cargoes are currently in transit. Sources say that demand for steel wire remains strong in the EU, with a remaining quota of 33,716 mt.