Turkish suppliers are trying to keep their long steel export prices, while monitoring recent developments in the raw material segments. The Turkish mills are concluding rebar deals to their regular nearby destinations amid the slow trading activity seen in the Far Eastern and Latin America markets, while freight rates have also remained high.
Ex-Turkey rebar export prices are currently standing at $670-680/mt FOB, stable over the past week. A 4,000 mt lot of rebar has been traded to Israel at $670/mt FOB for October shipment this week. In addition, a small tonnage rebar sale is rumored to have been sold to Yemen at $670/mt FOB this week. “The level of $670/mt FOB seems a bit high for the Yemen rebar market, $650-660/mt FOB price levels are more workable,” one source told SteelOrbis.
In the local Turkish market, the official general price range is currently available at $665-680/mt ex-works. However, the workable rebar price is at $655/mt ex-works in recent rebar transactions. According to sources, around 23,000 mt of rebar have been traded at $655/mt ex-works in the Izmir region. As a result, the estimated overall tonnage of rebar sales amounts to around 95,000-100,000 mt when Kardemir rebar sales today at the same price are also taken account.
In the wire rod segment, a few mills are offering wire rod at $775-780/mt FOB, while slightly lower levels are also available for serious buyers. A 7,000 mt of wire rod cargo has been traded to Israel at $770/mt FOB for October shipment this week.