Longs producers in Turkey have continued facing slow trading activity on exports due to lack of orders and competition with North Africa, but overall the number of buyers willing to buy is rather scarce, mills report. Moreover, the domestic rebar market in Turkey has continued weakening with the workable price levels losing at least $5/mt over the week in all regions. In the meantime, both import scrap and billet prices are quite stable, adding some support to the Turkish mills in their target to avoid dramatic discounts. “Import scrap and prices are stable and even if mills go aggressive [on rebar local pricing], there is no big demand out there and not many have still much restocking to do,” a local source told SteelOrbis.
Currently, rebar mills’ official offers in Turkey’s domestic market are available at $555-585/mt versus $560-595/mt ex-works, week on week. The workable price levels, according to sources, have still varied at $550-555/mt ex-works in the Iskenderun region, stable over the same period. "The supply side is being suppressed due to the rapid decline in the local rebar pricing then the size availability might also be narrowed by the new year" a source commented. A few Marmara-based mills are quoting at $580/mt ex-works, down by $5/mt a week ago. "When the average HMS I/II 80:20 import scrap price is taken into account as $365/mt CFR Turkey, then $580/mt ex-works in the Marmara region seems workable," another source told SteelOrbis. According to sources, the activity is not bad in this region due to construction demand coming from the airport project in the area, but the suppliers still had to step down from their earlier target of $585-590/mt ex-works. In the Izmir region, the rebar offers have fallen to $550-552/mt ex-works, also indicating around $5/mt decrease over the same period.
Turkish official export rebar offers for the cargoes to be shipped in late January have declined by $5/mt to $560-570/mt FOB. The overseas markets are said to be extremely quiet due to lack of orders specifically from Europe due to the holiday period and the ongoing CBAM clarifications.
In the wire rod segment, the official export prices are still available at $570-580/mt FOB for late January shipments, unchanged over the past week. According to sources, additional discount is applicable depending on the tonnage and the inquiring country. Locally, wire rod prices in Turkey have fallen by $5/mt to $565-585/mt ex-works this week, while additional discounts are applicable for serious buyers.