Turkish rebar producers have once again increased their prices, following the rise of import scrap price levels in the most recent deals. Export prices for rebar have moved up by $10/mt over the past week to $430-440/mt FOB, though the lower end is offered by few. Overseas demand remains low as the number of the markets where Turkey is able to sell large lots is still very much limited. “Turkey has more chances to catch that level in the domestic market rather than in exports. Even so, the sales volumes will not be huge,” a trader said.
For now, Turkish mills prefer to concentrate on the local market, where rebar prices have moved up from $420-430/mt ex-works seen last week to $435-438/mt ex-works in offers by the majority of the key producers. Demand is said to be at moderate levels and is expected to slow down due to the upcoming holiday period. However, some market players expect local rebar demand to improve in August as buyers will need to replenish their stocks. Moreover, trade may remain solid in September. “Some construction companies may advance in the realization of their projects, partly taking into account that a second wave of Covid-19 in the last quarter of the year is not completely excluded,” a producer told SteelOrbis.