Although rebar exports to the US remain challenging overall, another Turkish mill has recently managed to close a deal for a medium-sized lot, while smaller volumes have also been traded. Negotiations for new transactions continue.
A Marmara region-based Turkish steel producer has recently sold up to 20,000 mt of rebar to the US at slightly above $580/mt CFR on theoretical weight basis, duty paid. In mid-November, another Turkish mill sold 12,000 mt of rebar to the same buyer, again at $580-585/mt CFR, as SteelOrbis reported earlier. In addition, last week another Marmara-region based producer sold 5,000 mt of rebar to a different customer in the US, again at $580/mt CFR duty paid.
Negotiations with US rebar buyers continue as the supply side is aiming to top up the cargo in order to achieve a better freight rate. According to estimations, the FOB-based level for the mentioned sale will make around $420/mt FOB once the cargo is full. The tonnage is to be shipped at the end of December or in early January.