Higher import scrap deal prices have contributed to bullish sentiment among Turkish long steel exporters. In addition, some large volumes were already traded earlier to Asia and to Latin America, and so the major Turkish producers have closed their order books for this year and are not in a rush to provide discounts taking into account that their volumes available for sale are not so huge, SteelOrbis understands.
Currently, ex-Turkey rebar offers are mainly at $465-470/mt FOB, up $10/mt over the past week. The product is available for end of December-January shipment. A small rebar tonnage was last week traded to Israel at slightly above $450/mt FOB Turkey for December shipment.
In the local Turkish rebar market, most Turkish mills are currently offering rebar prices at $460-470/mt ex-works. Approximately 20,000 mt of rebar were traded in the Izmir region at $455/mt ex-works earlier this week, SteelOrbis has learned.
In the wire rod export segment, most Turkish mills are still offering wire rod at $530-540/mt FOB, stable over the past week,while a few mills are offering at slightly higher prices, mainly for January shipment. No fresh wire rod sales have been heard for now.