Longs producers in Turkey have continued their uptrend in the domestic market and also in export offers. However, while in the local market some sales are seen, though not so lively and not at the highest offered levels, demand for exports is weak. North African suppliers, which are the main competitors of Turkish mills, have also increased their offers amid higher costs and the tougher logistical situation. The ongoing war in the Middle East has triggered concerns regarding energy prices globally and in Turkey market players expect higher natural gas prices in April. As a result, though the domestic demand situation is more promising due to seasonal factors and higher prices may be accepted, the mills’ export positions are a lot weaker.
Locally, most Marmara-based mills are offering official rebar prices at $600-605/mt, versus $575-580/mt ex-works before the holiday. In the Izmir region, the prices increased from $552-563/mt to $585-590/mt ex-works over the same period. In the Iskenderun region, rebar producers are offering at $580-582/mt, up from $557-568/mt ex-works. “There is not much active demand yet. The further price increase for rebar is based on higher scrap, higher energy costs, and generally on the expectations of the market regarding the Iran war situation,” a trader told SteelOrbis. “Seasonally, demand should pick up locally, but might be slower than usual and might take longer than usual,” he added.
In the export segment, rebar from Turkey is at $595-600/mt FOB in the official offers for April and early May shipments, while levels $5/mt lower are also possible for serious orders. Since before the holiday, export prices have increased by $20-30/mt, in line with the price rise in the domestic market. According to sources, 20,000 mt of rebar were traded to Germany at $570/mt FOB last week, but this level is no longer available.
In the wire rod segment, local Turkish official prices have settled at $600-610/mt depending on the region, versus $565-580/mt ex-works two weeks ago. The workable wire rod export prices are evaluated at $595-605/mt, versus $565-580/mt FOB two weeks ago. Turkish mills' wire rod export offers are testing $600-610/mt, versus $570-590/mt FOB two weeks ago, for April and early May shipments.
.jpeg)