Turkey’s rebar export prices move down

Friday, 26 April 2019 16:39:10 (GMT+3)   |   Istanbul
       

Turkish rebar mills have reduced their export prices by $5/mt week on week to $475-485/mt FOB on actual weight basis in order to meet foreign buyers’ firm bids. It is observed that Turkish rebar sales to markets such as Yemen and Israel, where Turkish mills reguarly conclude sales of regular tonnages, have mostly been concluded at 470-475/mt FOB on actual weight basis.

On the other hand, having concluded sales of large tonnages to the Far East in April, Turkish mills are still receiving demand from this region. In the absence of such demand from another export market, their desire to attract a share of the demand in the Far East has increased. Accordingly, Turkish mills are observed to have reduced their prices for the Far East even below the level of $470/mt FOB on actual weight basis in order not to miss out on opportunities to conclude deals for large tonnages. SteelOrbis has been informed that Turkish producers are also receiving billet demand from the Far East, but it is hard for them to meet buyers’ desired price levels. As a result, CIS-based suppliers are more active in terms of billet sales to the Far East.

While no new rebar sale from Turkey to the US has been heard over the past week, some Turkish mills have concluded sales to the European Union within the scope of the new quota to be released in July. However, European buyers are reported to be cautious as regards concluding purchases of import rebar.

Having increased last week, import scrap prices in Turkey have declined to their previous levels in the most recent deals. Today, April 26, it is observed that Turkish mills are targeting levels below $305/mt CFR for import HMS I/II 80:20 scrap.


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