Most Turkish suppliers have been trying to maintain their rebar export prices unchanged for shipments in the second half of August at $740-760/mt FOB. A few producers are currently offering higher levels for extended delivery terms. Exporters’ attention is still mainly focused on buyers from Latin America, Israel and the US.
According to sources, a mill sold a combined cargo to the US and Puerto Rico totaling 30,000 mt at around $735/mt FOB base or around $1030/mt CFR duty paid to the US. The average freight was estimated at around $80-85/mt by the end of last week, though the full details of the deal have not been confirmed by the time of publication. Some small rebar tonnages were also traded to Israel at around $750/mt FOB.
In the local Turkish market, the general price range for rebar is at $720-740/mt ex-works depending on the producer. Most rebar buyers have been in wait-and-see mode due the expectations regarding interest rates in Turkey, which was announced as stable today by the Turkish central bank. Some local traders are refraining from new purchases to gain a better understanding of import scrap pricing.
In the wire rod export segment, some Turkish suppliers are offering for August shipments at around $840-850/mt FOB, up by $5/mt on the higher end over the past week. Higher levels are available for extended shipment terms. A 5,000 mt wire rod lot has been sold to the EU at $850/mt FOB for July shipment, SteelOrbis has learned.