Asian rebar consumers remain interested in imports, while high offers from China have created good opportunities for Turkish mills to sell to the region.
Last week, a Turkish steel producer sold a 50,000 mt rebar cargo to Hong Kong at $672.5/mt CFR on actual weight basis for June shipment, SteelOrbis has learned. According to sources, the mentioned transaction price is equivalent to $617.5-622.5/mt FOB on actual weight basis, taking into account the increased freight rates.
The current general range of offers from Turkey is at $615-630/mt FOB for May-June shipments. However, the level may increase by the end of this week, taking into account the optimistic mood in Turkey’s import scrap segment.