Last week was quiet in terms of Turkish rebar producers' export sales following their sales to the US concluded in the first week of June, while in the current week their export sales once again regained momentum. A Turkish steel mill has concluded a sale of 20,000 mt of rebar to the US at $745/mt CFR on theoretical weight basis, while another Turkish producer has sold 50,000 mt of rebar to Singapore at $540/mt FOB on actual weight basis.
Meanwhile, it is observed that Turkey’s rebar export offers are still at $550-560/mt FOB on actual weight basis. Additionally, Turkish steel producers are focusing on their export sales as trading activity in the local Turkish rebar market has been at low levels for some time now amid the uncertainties resulting from the volatility of the Turkish lira-US dollar exchange rate and the approach of the snap elections to be held on June 24.