Turkey’s rebar export prices have moved sideways over the past week, at $420-425/mt FOB for December-January shipments. Trading remains challenging as foreign demand is limited and so mills find it difficult to reflect the positive sentiment in the scrap segment in their deal levels for rebar. Some optimism existed in the market after the disclosure of sales to the US. “Any sale is good, but one or two cargoes will not save the day,” a producer mentioned. Some small sales to Lebanon have been reported, while price inquiries have also been coming from Australia, SteelOrbis has learned.
In the wire rod segment, export prices from Turkey have remained stable at $445-455/mt FOB for December-January shipments. On November 28, the remaining EU quota for Turkish wire rod was 55,432 mt, while European buyers are cautious as regards further imports of Turkish products. Sources say that demand for steel wire remains strong in the EU, with a remaining quota of 30,779 mt, and with 1,313 mt of steel wire waiting at EU ports to be processed by customs.