Scrap price rise reflected in Turkey’s longs export offers

Tuesday, 07 April 2020 17:36:43 (GMT+3)   |   Istanbul

Having accepted a sizeable rise in import scrap prices in a couple of deals, Turkish longs producers have immediately reflected it in their export offers. Despite the uptrend, market insiders doubt the prices will stick due to the significant fall in rebar consumption in the local market and outside the country.

Following the rise of around $30/mt in scrap prices, Turkish rebar mills have returned to $400-410/mt FOB in their indicative export offers, versus $375-390/mt FOB offered early last week. Domestic rebar price levels are in line with the export prices – at $397-410/mt ex-works depending on the region, SteelOrbis has learned.

In the wire rod segment, Turkey’s export offers have increased by $15/mt over the past week to $415-430/mt FOB from most sellers. Some producers are taking their time to announce new price levels, while some voice offers which are even $10/mt higher compared to the general range.

Market insiders are mostly sceptical regarding whether Turkey will be able to actually sell longs abroad at the mentioned price levels. “International demand is really limited. It will be very difficult to reflect the import scrap price rise in longs at this point,” one source stated.

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