US-based buyers remain interested in import rebar bookings from Turkey, although the trade volume has been limited to only occasional sales.
A Marmara region-based Turkish producer sold 10,000 mt of rebar to the US last week at $595/mt CFR. The cargo will be shipped to New Orleans in April. Market players expect the supplier to close deals for an additional 10,000-15,000 mt of rebar to complete the cargo.
According to sources, initial offers from Turkey were at around $600-605/mt CFR, and so the buyer managed to insist on some slight discount. As reported earlier, the previous deal to the US was closed by another mill in the Marmara region at the end of February at $610/mt CFR for 15,000 mt.
Prices are on theoretical weight basis, duty paid.