Long steel export prices from Turkey have increased over the past week as expected, supported by firmer scrap prices and cautiously positive expectations in the market. While buyers from the Far East are absent due to the holiday period, Turkish mills have managed to close some deals to alternative markets.
Turkish rebar export offers have risen by $15/mt to $615-625/mt FOB for April shipments. A deal for 25,000 mt of rebar has been closed this week to Peru via a trader at $620/mt FOB for April shipment and the price includes around $15/mt in extras, SteelOrbis has learned. In addition, a small tonnage of rebar has been sold to Senegal at $625/mt FOB. According to sources, an enquiry for around 25,000 mt from Brazil is on the table for negotiation without any further details confirmed by the time of publication. In the US market, ex-Turkey rebar offers have been heard at $820/mt CFR duty paid for May shipments. In addition, Turkish mills have been receiving enquiries from Malaysia and Australia.
In the local Turkish market, around 10,000 mt of rebar were traded in the Marmara region at $617-620/mt ex-works yesterday. Traders’ spot rebar prices were at $608-612/mt ex-warehouse, while mills have been standing at $610-620/mt ex-works in the Marmara and Izmir regions.
In the wire rod market, some Turkish mills are voicing export offers at $710-720/mt FOB for early May shipment, up by $20/mt week on week.