In contrast to the decreasing trend of finished steel prices in the export markets, scrap and billet offers both in the Turkish domestic market and from CIS countries are observed to be showing strength. Thus, it is unlikely that Turkish mills will conclude new scrap purchases, unless new rebar bookings are concluded and more favorable scrap prices become available in the market. In the Turkish domestic market traders' sales prices for rebar vary in the range of TRY 800-830/mt including VAT, indicating a slight decrease as compared to last week.
End-user demand for rebar in the Middle Eastern market has not shown any improvement as compared to last week. While local mills have maintained their rebar prices at the levels seen in previous weeks in the Saudi Arabian domestic market, price stability is also seen in the UAE rebar market.