Turkey’s rebar and wire rod exports offers are among the highest in the neighboring regions, following the most recent increases. The main reasons for the increases are the higher workable import scrap prices and the uptrend in the domestic longs market. Overall, even though there has been some interest in Turkish rebar from the UK and some Balkan countries, the current price levels are not considered workable, particularly versus the offers coming from North African suppliers. However, Turkey has the advantage of shorter lead times.
Ex-Turkey longs prices have increased over the past week by around $10/mt to $565-575/mt FOB for rebar and $575-585/mt FOB for wire rod, both for late December and January shipments. Although restocking has been a bit slower compared to mid-November, mills’ latest offer levels for rebar have reached $570-590/mt ex-works, while latest workable levels have stood at $565-575/mt ex-works and slightly above.
Egypt’s leading steel producer is offering $540/mt FOB for rebar and $550/mt FOB for wire rods in coil, in line with the previous week, while it has not been so aggressive in sales as its preference still goes to the domestic market. Another supplier from Egypt has been offering $550/mt FOB for rebar and $560/mt FOB for wire rod, SteelOrbis has learned. One of the Algerian mills is reported to have increased its export offers for January shipments by around $5-10/mt to $545/mt FOB for rebar and $550/mt FOB for wire rod.
