Ex-Turkey rebar offers have risen by $10/mt to $535-545/mt FOB over the past week. Turkish mills are active in negotiations and sales to various destinations with a few deals being closed.
The Americas are still an active export destination for Turkey. A cargo of around 20,000 mt of rebar has been traded to Peru at $540/mt FOB for March delivery, SteelOrbis has learned. In addition, a 6,000 mt of rebar lot has been sold to the US at $695/mt CFR (duty paid for January shipment), which is estimated at $540-545/mt FOB base. A few Turkish mills are currently voicing slightly higher levels for the US rebar market. In addition, a 4,000 mt rebar cargo has been traded to Romania at $540/mt FOB for February delivery.
There are market rumours ex-Turkey rebar deals at $560/mt CFR Hong Kong and $550/mt CFR Singapore, both for March shipment, but these were not confirmed by the time of publication. However, market sources estimate the rumored deals at around $530-535/mt FOB base levels, which would be quite acceptable to Turkish mills.
In the wire rod segment, some Turkish mills are voicing offers at $615-625 FOB for March shipment versus, $595/mt FOB last week. A 3,000 mt wire rod lot was sold to South America at $615/mt FOB for February shipment earlier this week.Sources report Morocco and Algeria are the key markets for wire rod sales in North Africa. Recently, Morocco has purchased 8,000-10,000 mt of wire rod for end of January-early February shipment, while a 25,000 mt wire rod lot was sold to Algeria last week, but the price level has not been disclosed to the market yet.