Turkish rebar producers seem to be aiming to keep their longs export offers stable amid the positive sentiment in the import scrap segment, while focusing on their export shipments ahead of the Eid holiday. A few Turkish mills seem to be focusing on the UK and non-EU countries in the Balkan region for fresh rebar sales. The general sentiment on the demand side in the local Turkish rebar market is sluggish amid the political and economic unrest in the country.
Currently, Turkish rebar export prices vary at $580-585/mt FOB for April shipment, down by $5/mt on the higher end week on week. However a few mills are even applying aggressive pricing policies and quoting $575/mt FOB depending on the region. A fresh deal for a small tonnage of rebar, around 5,000 mt, is rumored to have been closed to the UK at around $610/mt CFR UK, SteelOrbis has heard. Some sources estimate that the freight to the UK should be around $30-40/mt depending on the place of loading.
In the local Turkish rebar market, official offers and workable prices have settled at $575-595/mt ex-works depending on the region, stable over the past week. In the Izmir and Marmara regions specifically, the levels are at $575-590/mt ex-works, also stable over the past week. In addition, one Iskenderun-based mill is still offering its official rebar prices at around $592/mt ex-works, for an extended delivery period, according to the current exchange rate of $1 = TRY 38. According to sources, the latest workable rebar price in this region stands at around $572/mt ex-works, with the same exchange rate, for cash payment only.
In the wire rod segment, most Turkish mills have also settled their offers at $585-595/mt FOB, for April shipment. Moreover, a few mills are even still testing $600/mt FOB, though this price level also seem a bit difficult to achieve under the current market conditions. In addition, workable Turkish domestic wire rod prices vary at $585-595/mt ex-works, unchanged over the past week.