Long steel producers in Turkey have been targeting higher prices over the past week in the domestic and export markets, citing higher costs amid gradually rising import scrap prices, slightly better local demand, and the ongoing impact of geopolitical tensions on monetary markets and fuel costs. Still, the market response to the higher rebar price levels remains restricted by buyers being cautious and mainly purchasing according to their daily business requirements. Some sales have been reported to the Balkan region, but the volume is not sufficient to ease the overall pressure on producers.
Turkish mills seem to be focusing lately on the Balkans and eastern Europe, in particular on Bulgaria and Romania, in addition to Bosnia, sources report. Most European buyers are taking their time before concluding new purchases, following the recent changes in the EU quota system. Sources report a total of around 15,000-20,000 mt of rebar have been traded recently to the mentioned region at $600/mt FOB and slightly below. The official offer level for ex-Turkey rebar for May shipments is at $600-620/mt FOB, up $10/mt over the past week.
In the local Turkish market, most Marmara-based mills are officially offering at $610-620/mt ex-works, up $5-10/mt from the last week’s levels. In the Izmir region, the prices have settled at $600-603/mt ex-works, rising by $8-13/mt over the same period. In the Iskenderun region, rebar producers are offering at $608-612/mt, versus $595-601/mt ex-works previously. In general, the latest workable prices in the domestic rebar market have been reported at not much higher than $600-605/mt ex-works.
In the wire rod segment, Turkish domestic official prices have settled at $615-625/mt ex-works depending on the region, rising by $5-10/mt over the past week. The workable wire rod export prices are evaluated at $610-620/mt FOB, up by $10/mt over the same period. Turkish mills are testing wire rod export offers at $615-625/mt FOB, also rising by $10/mt over the past week, for May shipments.
.jpeg)