Ex-Turkey longs prices are relatively stable, while a few producers have been attempting to raise their rebar offers slightly based on their filled order books. As a result, ex-Turkey rebar offers are still available at $730-750/mt, while a few mills are testing $760/mt FOB, which seems difficult to achieve for now. Most suppliers are in the market for late August-September shipments.
Israel and Yemen remain regular rebar export destinations. A 6,000 mt lot of rebar has been sold to Yemen at $745/mt FOB on actual weight basis for August-September shipment. “A few Turkish mills have stopped quoting rebar prices to Israel due to high freight rates, while $735-745/mt FOB deals were closed a few weeks ago,” a source indicated. It is worth mentioning that, due to the overall silence in the market some reports of earlier bookings have continued to circulate. In particular, there has been information about a deal to the Far East at $720-730/mt FOB, but, according to sources, it is a small top-up cargo in addition to a previously booked lot.
In the local Turkish market, the official rebar price range is standing at $730-740/mt ex-works in the Marmara region. However, the workable price level seems to be at around $708-710/mt ex-works. Kardemir has succeeded in selling around 36,000 mt at $708/mt ex-works this week. In addition, around 25,000-30,000 mt of rebar have been traded at $705-710/mt ex-works in the Izmir region since the beginning of this week.
In the wire rod export segment, a few Turkish producers continue to offer at around $850-860/mt FOB for early September shipment, stable week on week.