Turkish rebar producers have raised their rebar export prices amid costlier import scrap as transacted in the past couple of deals. However, international demand is still sluggish. Both Turkey’s longs exports and the Turkish domestic longs markets are silent ahead of the Feast of Sacrifice Holiday, which will start next week. Buyers are in wait-and-see mode and are currently only purchasing in line with their daily needs and are monitoring the import scrap and billet price trends. Overall, demand does not seem supportive either, even for a slight hike in local mills' rebar prices. Moreover, limited size availability is still an issue for the country and this spurs the trade between different regions of Turkey, for instance from the Aegean region to the southeastern region.
Currently, Turkish rebar export prices for July shipments vary at $580-585/mt FOB, up by $5/mt over the past week. However, no fresh rebar sale has been heard for now. In the Turkish domestic rebar market, Icdas A.S. has kept its official rebar price unchanged at $620/mt ex-works, while sources report the workable rebar prices in the Marmara and Izmir regions vary at $585-605/mt ex-works this week, stable week on week. Additional discounts are applicable for serious buyers and cash payment.
In the wire rod segment, most mills are offering at $585-590/mt FOB for July shipments, stable over the past week, while a few mills are quoting wire rod at $595/mt FOB. Moreover, official local wire rod prices vary at $595-640/mt ex-works, stable week on week. One Iskenderun-based mill issued its wire rod price earlier this week at $610/mt ex-works, up by $5/mt with extended delivery. Sources report the workable wire rod prices vary at $595-620/mt ex-works depending on the region.
.jpeg)