Turkish rebar producers’ export activities are at a standstill amid sluggish international demand and unclear financial conditions. Most Turkish mills are also monitoring the import scrap price trend and October energy costs. Some of them have raised their prices in order to be on the safe side. In the local Turkish rebar market, most traders are struggling with credit issues and currency fluctuations.
Ex-Turkey rebar offers for late October shipments have settled at $680-700/mt FOB, versus $680-690/mt FOB a week ago. In the local market, most mills are offering rebar at $690-700/mt ex-works, while a sale of around 10,000 mt of rebar was rumoured at around $675/mt in the Izmir region yesterday. According to sources, the workable rebar price may be considered to be below $680/mt ex-works when the depreciation of the Turkish lira against the US dollar is taken into account.
In the wire rod segment, a few mills are offering wire rod at $720/mt FOB, rising by $10/mt over the past week, and slightly higher levels are available. A few inquiries have been received from African countries for small tonnages, SteelOrbis has heard.