Turkish rebar export prices have moved down by $5/mt over the past week amid lower scrap prices and buyers' pressure and is offered by most mills within $440-450/mt FOB for February shipments.
According to sources, some deals for Turkish rebar have been closed to Asian markets, with the estimated total rebar tonnage sold to Hong Kong and Singapore at around 100,000-120,000 mt. Deals to Hong Kong were closed at $470-475/mt CFR, while the level for Singapore is estimated at around $455-460/mt CFR on theoretical weight basis, both coming to around $435-440/mt FOB base, SteelOrbis understands.
This week, the market has been discussing a rebar sale to the US from Turkey; however, the sides did not confirm the transaction by the time of publication. According to sources, a Marmara region-based Turkish mill has sold about 25,000 mt of rebar at around $612-615/mt CFR on theoretical weight basis, duty paid.
Some deals have reportedly been closed to Romania for 10,000 mt at around $440/mt FOB, as estimated by market sources. “Today, whatever is sold to the EU means that mills are selling from the “others” quota which will be opened in April,” a trader told SteelOrbis.
In the wire rod segment, Turkish mills’ official export prices have remained stable over the past week at $460-470/mt FOB for February shipments. Turkey has sold 8,000-9,000 mt to some African buyer and 12,000-13,000 mt to Israel, both at $460-465/mt FOB. Some 7,000-8,000 mt were sold to West Africa at $455-460/mt FOB, while around the same level was fixed to Morocco for up to 5,000-10,000 mt of wire rod, Steel Orbis has learned.