Turkey’s long steel export activities are at a slow pace against the backdrop of the negative sentiment in the import scrap segment and currency fluctuations. A few enquiries have been received from the Middle East and the EU for the next quota round, while most of the international buyers prefer taking their time before concluding new purchases in order to monitor the market situation.
As a result, Turkish longs exporters have not managed to avoid discounts. A few mills have started testing $840-860/mt FOB, while at the end of last week the indications were at $870-900/mt FOB. Higher offers are also available in the market, but they are not considered workable in the falling market.
In the Turkish domestic market, Icdas A.S. has cut its rebar price by $40/mt to $870/mt ex-works today, May 9. The mills’ general official rebar price range varies at $860-870/mt ex-works. Some sources report large discounts for limited-tonnage deals are applicable for serious buyers. “The Turkish longs export market is foggy these days. Most suppliers are trying to set the workable price levels based on customers,” a source told SteelOrbis.
In the wire rod segment, ex-Turkey export offers are at $940-950/mt FOB for June shipments, falling by $10/mt over the past week. According to sources, one mill is quite aggressive and is accepting prices at as low as $860/mt FOB for late May-June shipments.