The negative sentiment in the import scrap segment in Turkey and the silence on the longs export side has led to a sharp decrease in ex-Turkey longs offers.
Turkey’s rebar export offers have settled at $590-600/mt FOB with slightly lower levels considered possible, versus $615-620/mt FOB seen last week. Most mills are in the market to sell for late March-April shipments. Market players are waiting to hear a concluded deal. However, no transactions have been reported yet.
In the Turkish local market, the traders’ spot rebar prices is currently available at $564-570/mt ex-warehouse today. Sources report a few mills are currently testing $585/mt ex-works in Marmara region for serious buyers.
In the wire rod market, some Turkish mills are voicing export offers at $690-700/mt FOB for April shipments, down by $10-20/mt over the past week.