Turkey’s rebar export prices have increased by $5/mt on the lower end and by $10/mt on the upper end week on week and are currently at $555-565/mt FOB on actual weight basis. International demand received by Turkish rebar exporters is observed to have improved slightly as compared to last week, while the rises in import scrap quotations in Turkey have provided support for the uptrend of Turkish rebar export prices.
In the current week, it is heard that two Turkish mills have concluded a couple of rebar sales to markets such as Israel and Yemen - where Turkish mills usually conclude sales of small rebar tonnages - at $555-560/mt FOB. Meanwhile, market sources report that purchases of Turkish rebar have been made in North Africa, another market to which Turkish producers regularly conclude sales.
Additionally, two Turkish steelmakers have concluded sales to Colombia in the current week at $555-560/mt FOB on actual weight basis, with one producer selling approximately 15,000 mt of rebar to the country. The same Turkish mill has also concluded a sale to Canada for 30,000 mt of rebar at $560/mt FOB on actual weight basis.
In addition to the above transactions, Turkish rebar producers have restarted to give offers to Singapore, though market sources believe it will be hard for Turkish mills to conclude sales to this destination for now as there is no significant price difference between Turkish and Chinese rebar quotations ($555-570/mt FOB).