Ex-Turkey long steel prices have risen this week in line with strong import scrap prices, though international buyers are taking their time to make their new purchases given the sharp price hike. Turkish mills in the meantime are not under pressure since their order books have more or less been filled.
Turkish rebar export offers are mainly standing at $500-510/mt FOB for late January-February shipments. However, a few Turkish producers are not quoting for now. Although sources report rebar sales to Latin America and Israel at $505/mt FOB, these deals have not been confirmed by the time of publication. Turkish producers have rumors regarding an announcement in the US of preliminary dumping margins for Turkish rebar, which could pose an obstacle to possible future Turkish rebar sales to the US.
In the local Turkish rebar market, only 3,000 mt of rebar were traded in the Marmara region at $510/mt ex-works yesterday. However, most buyers are refraining from new purchases.
In the wire rod segment, some Turkish mills are voicing wire rod prices at $585/mt FOB for February production and March shipments. A few Turkish mills have stopped giving quotations for wire rod for now. 5,000 mt of wire rod was traded to Israel for January shipment at $575/mt FOB at the beginning of this week. No other fresh wire rod deals have been heard for now.