Turkish rebar producers are going through a silent period in terms of export activity as most international buyers are taking their time before concluding new purchases while monitoring the downward trend in the import scrap segment. In addition, the local rebar market in Turkey is also not supportive due to the ongoing currency fluctuations as well as the slow trading activity in the construction sector due to the adverse weather conditions in the country.
Currently, ex-Turkey rebar prices are at $550-555/mt FOB, versus $560-570/mt FOB a week earlier, for late January-February shipment. A few inquiries are heard from the Balkan region specifically Bulgaria and Romania, SteelOrbis has heard. According to sources, ex-Turkey rebar and wire rod offers to Bulgaria stand at around $560/mt FOB and $570/mt, respectively, for late January shipment.
In the Turkish domestic rebar market, the official and workable rebar prices have respectively settled at $555-580/mt ex-works, down by $5/mt week on week on the lower end, and at $550-560/mt ex-works, also down by $5/mt week on week, in the Marmara and Izmir regions, including Icdas A.S.’s prices.
In the wire rod segment, most Turkish mills are offering at $560-570/mt FOB for late January-February shipment, stable over the same period. A few mills are applying aggressive pricing strategies and are even testing slightly below $560/mt FOB for serious buyers only. In addition, workable Turkish domestic wire rod prices vary at $560-570/mt ex-works, also down $5/mt week on week.
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