Market sources report that during the past week a Turkish steel producer has concluded a
rebar deal to the
US at $442/mt CFR on theoretical weight basis, for April shipment. Although Turkish
rebar offers to the
US have not decreased below $450/mt CFR on theoretical weight basis yet, it is thought that the Turkish producer in question adopted an aggressive approach and concluded the deal at this lower level in order to fill a cargo ship for March sales. Meanwhile, market sources state that the producer is trying to increase its
rebar prices for April sales.