The offer prices of most Turkish rebar exporters are still at $450-455/mt FOB, while some Turkish mills have already been voicing $460/mt FOB. The latest deal was closed to Singapore for 50,000 mt at $463/mt CFR on theoretical weight basis last week. Sources estimate the sale at $442-443/mt FOB. Another sizeable order for Turkish rebar is said to be under negotiation from Asia these days, SteelOrbis has learned. Turkey is mainly offering rebar for December shipments. Soon, more Turkish mills are expected to target higher rebar price levels as import scrap prices have once again moved up in the latest deals.
The local Turkish market has been very quiet as players have been waiting for the Turkish Central Bank’s announcement on interest rates, which have been kept stable today. Yesterday, Turkish producers’ general rebar price range was at $450-454/mt ex-works, while local traders’ spot rebar prices were at $441-449/mt ex-warehouse.
In the wire rod segment, most Turkish mills are currently offering wire rod at $515-530/mt FOB, mainly for January shipment. No fresh wire rod deal has been heard by the time of publication.