Turkish producers have been having a difficult time convincing international buyers to book rebar, taking into account the unclear prospects in China and the silence in the import scrap market in Turkey. As a result, the official offers for rebar from Turkey have declined by $10/mt over the past week to $730-750/mt FOB. The higher end of the range seems a bit difficult to achieve under the current market conditions. Most Turkish mills are offering rebar for August shipments, with no fresh sales heard yet.
In the local Turkish market, the official price range for rebar is at $700-735/mt ex-works, versus $720-740/mt ex-works seen last week. Additional discounts are available for serious buyers. Some Turkish mills are offering slightly lower levels due to currency fluctuations.
In the wire rod export segment, a few Turkish producers are offering for August-early September shipments at around $840/mt FOB, down by $10/mt on the higher end over the past week.