Following the rises in import scrap prices, some Turkish rebar mills have increased their export offers to $450/mt FOB, though there are still offers at $440/mt FOB in the market, both on actual weight basis.
Except for the Turkish rebar sale to Singapore heard last week, no new Turkish rebar export deal has been heard. Meanwhile, market sources state that the new price levels of Turkish rebar producers are attracting very weak interest from the international markets.
On the other hand, the quota of 117,231 mt imposed by the European Commission for rebar imports (valid for the February 2-June 30, 2019 period) is expected to be filled very quickly, and so some previously received orders may be canceled in the first week of February, market sources report.