Rebar prices in Turkey have remained relatively stable over the past week at $730-750/mt FOB for September shipments, while only some mills have availability for August. As Turkey is entering a long holiday period, no significant price change is expected next week.
According to sources, a mix of 13,000 mt of plain rebar and rebar in coil has been sold to Chile at $855/mt and $945/mt CFR for September shipment. The base rebar price in this deal is estimated at $720/mt FOB, signaling that, overall, discounts are valid for serious buyers. In addition, a deal from Turkey to Peru for 13,000 mt of rebar at around $750/mt FOB has been discussed in the market, although the sale is said to be a relatively old one.
A 6,000 mt lot of rebar has also been traded to Yemen at $740/mt FOB on actual weight basis for August shipment.
In the local Turkish market, the official rebar price range is mainly standing at $720-730/mt ex-works. Local rebar demand is silent due to the holiday period and most buyers are in wait-and-see mode due to the downward trend in the last couple of import scrap deals.
In the wire rod export segment, a few Turkish producers are offering at around $850/mt FOB, down by $10/mt on the higher end for September shipment. No fresh wire rod deal has been heard lately.