Turkish mills’ rebar export offers have moved down slightly to $460-465/mt FOB versus $465-470/mt FOB seen last week, mainly for November shipments. Although some negotiations have been reported, demand is limited.
A deal for 15,000 mt of rebar was concluded to Brazil at around $445/mt FOB in early September and Latin America currently seems a key destination along with the US for Turkish rebar exports. Around 10,000 mt of rebar were also sold to the US at around $465/mt FOB base, as SteelOrbis reported earlier.
The local Turkish rebar market was also quiet in terms of fresh sales. Most local traders have tried to destock with aggressive pricing. However, Turkish mills are trying to keep their rebar prices firm at $460-465/mt ex-works due the unclear scrap price trend.
In the wire rod segment, Turkey’s export offers have remained at $515-525/mt FOB, mainly for November shipments. A few Turkish mills have started quoting for December shipment. No fresh wire rod sales have been heard for now.