Turkish long steel mills are facing difficulties due to the lack of demand in the international market. Due to the geopolitical unrest in the Middle East, rebar sales to Yemen and Israel are mostly at a standstill and Europe remains the main target market. The future trend of Turkey’s import scrap market is expected to be shaped by US sellers’ scrap pricing strategies, while the import prices have remained stable for now.
Currently, ex-Turkey rebar prices vary at $625-630/mt FOB, versus $615-625/mt FOB, for February-early March shipment. A few mills are even quoting at slightly higher levels. No fresh rebar sale has been heard so far.
In the Turkish domestic rebar market, most mills in the Izmir and Marmara regions are offering official rebar prices at $625-645/mt, including Icdas A.S., rising by $5/mt on the higher end from a week ago. However, the lower end seems a little more workable under the current market conditions.
In the wire rod segment, offers vary at $635-645/mt FOB for February-early March shipment, stable over the past week. In the Turkish domestic wire rod market, the general price levels vary at $635-660/mt ex-works, up by only $5/mt on the lower end from a week ago. The higher end still seems difficult to achieve. In addition, Kardemir's price for 6-27 mm wire rod of SAE 1008-1010 grade is still at $645/mt ex-works since Wednesday, January 10.
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