Turkish rebar producers have been struggling to increase their export prices as demand is generally moderate and import scrap prices are stable. However, some foreign buyers have recently made some medium-sized purchases.
Rebar export offers from Turkey are at $415-425/mt FOB, the same as a week ago. Most of the mills are in the market to sell for December shipments. Some producers have been trying to offer higher levels, but these have hardly been achievable.
Turkish ills still find it challenging to sell large rebar cargoes abroad: however, some lots have been booked recently to various destinations. Around 15,000-16,000 mt of rebar were sold to Israel at $415-420/mt FOB for November-December shipment. Two sales were reported to Yemen for a total tonnage of 12,000-13,000 mt at up to $420/mt FOB, for December shipment. In addition, 15,000-16,000 mt were sold to Jamaica at $415-420/mt FOB, but for January shipment.
In the wire rod segment, export prices have increased by $5/mt on the upper end of the range to $445-455/mt FOB for December shipments. A Marmara region-based mill sold 11,000-12,000 mt of rebar in coil to Israel at $445-450/mt FOB for end of November-December shipment. The remaining quota for the EU sales is 62,859 mt, though European buyers are cautious regarding imports. Some activity may be seen in the south of Europe if local mills there are successful in increasing their domestic prices. In the meantime, according to sources, steel wire sales to Europe from Turkey are rather lively these days, while the remaining quota is 36,645 mt.