While import scrap prices in Turkey have so far remained on their upward track, the slightly higher Turkish rebar export prices have started to gain acceptance. However, the traded volumes have generally remained limited, with no large lots booked.
Currently, rebar export prices from Turkey are in the range of $415-420/mt FOB, up $5/mt on the lower end over the past week. The product is available for November-December shipments. Around 12,000-13,000 mt of rebar have been sold to Peru at $412-415/mt FOB, while around 3,000-4,000 mt have been sold to Pakistan at $415/mt FOB, both to be shipped in November. In addition, 9,000-10,000 mt of single-bend rebar have been sold to Ethiopia at $410-415/mt FOB. Turkish mills report orders coming from Israel, Lebanon, Yemen and African countries.
In the wire rod segment, the offer range is stable from last week at $445-450/mt FOB. Moreover, some Turkish mills have stopped quoting for exports as their order books are full.
EU-based buyers are cautious amid the quota issue with the remaining volume for Turkish imports being 90,731 mt. However, SteelOrbis has been informed that Turkey has concluded a deal for 3,000-5,000 mt to the EU at $440-445/mt FOB for November shipment.