Turkish rebar export offers have settled at $640-655/mt FOB for March shipments, versus $630-650/mt FOB seen two weeks ago. The producers are still active in negotiations and sales to Latin America where the higher offer price levels have been workable. According to sources, a 20,000 mt cargo has recently been sold to Peru at slightly below $700/mt CFR, which is estimated by the market players as $640-645/mt FOB base. However, the information has not been confirmed by the time of publication. The local Turkish market has a very quiet start to this week. Most Turkish mills are currently offering rebar mainly at $640-660/mt ex-works.
In the wire rod market, a few Turkish mills are voicing offers at $740/mt FOB, versus $710-720/mt FOB for March shipments, up on average by $25/mt over the same period. A 4,500 mt of wire rod lot has been traded to Peru at $740/mt FOB for March shipment, while a batch of 2,500 mt of wire rod has been sold to Israel at $740/mt FOB for February shipment.