Ex-Turkey rebar has been recently traded to Asia after a long break and more deals from Turkey are anticipated in the near future to this destination. A Marmara region-based mill has traded 55,000 mt of rebar to Hong Kong at $440/mt CFR, SteelOrbis has learned. The cargo is for October shipment. The FOB level is estimated at $410/mt FOB, which is in line with the general offer range, standing at $405-415/mt FOB. Moreover, market sources expect some more cargoes to be sold from Turkey to Asia, specifically to Singapore as the country has been out of the market for months and may be hungry to restock.
In the wire rod segment, Turkish wire rod is available at $430-440/mt FOB for end of July-August shipment. In addition, 12,000 mt of wire rod has been traded to West Africa at $430/mt FOB Turkey for end of August shipment.