Turkish longs producers continue to struggle to find orders in export markets particularly in the rebar segment as little demand is coming from the EU nowadays, with only small inquiries seen from non-EU destinations. Turkish mills are currently also under pressure from high costs from firm scrap prices and the recent natural gas price hike announcement, while weak rebar sales in both local and export markets have been pushing rebar prices downwards.
Currently, Turkey’s rebar export offers vary at $530-540/mt FOB for late July-early August shipments, down by $5/mt on the upper end over the past week. According to sources, fresh rebar enquiries from Kosovo and Bosnia have been heard, with firm bids of $530-535/mt FOB for late July shipment. Some orders have also been heard from the north of the EU, but for the third quarter quota period. Otherwise, demand has been quite silent amid the unrest in the Middle East, while no enquiries have been heard from Latin America.
In the Turkish domestic market, official rebar prices in the Marmara and Izmir regions have fallen by $5/mt on the lower end to $535-560/mt ex-works, including the offers from Icdas A.S. The workable rebar prices in these regions are at $530-555/mt ex-works, stable over the past week. Moreover, an Iskenderun-based mill has offered its rebar prices at around $560/mt ex-works, for an extended delivery period, stable as well. According to sources, the latest workable rebar price in this region stands at around $535-540/mt ex-works, also stable over the past week.
In the wire rod segment, most Turkish mills have settled at $540-545/mt FOB, versus $545-555/mt FOB last week, for late July-early August shipment. In addition, the workable Turkish domestic wire rod prices vary at $540-560/mt, remaining unchanged over the past week.
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