Turkey’s rebar export price offer range widens

Turkey's rebar export offers closed last week at $680-690/mt FOB on actual weight basis. While no large tonnage transaction has been heard lately to the export markets, where demand has remained low, most buyers in the Middle Eastern markets are taking local producer prices as their benchmark and are looking for lower prices in their domestic market due to the sluggishness of demand.
 
The lack of activity in Turkey's export markets has also been reflected in the Turkish domestic market. Although domestic rebar prices in Turkey have only showed a limited softening, demand has also remained low in the local market.
 
Starting the current week amid significant uncertainty, the price range of Turkey's rebar export offers has widened, reaching $670-690/mt FOB on actual weight basis, though lower prices are also available in the market for larger orders. Rebar buyers in Turkey's export markets state that Turkish mills will be unable to attract the desired demand levels, although they are insisting on maintaining their prices at current levels. Meanwhile, buyers in the export markets expect more precise offers from Turkish rebar suppliers in the coming days as uncertainty dissipates and they expect the price range of offers to narrow again.