Turkish rebar producers are going through difficult times due to sluggish demand both locally and in the export market, while prices are almost unchanged, though with some negative bias. Due to the absence of a large part of European buyers, they are negotiating for possible rebar sales to the Balkans, specifically Romania. However, firm bid prices do not match mills’ export offers and the latter are not willing to accept low levels due to their high production costs. In the Turkish domestic market, most local buyers are postponing their new purchases due to hot weather conditions and the slowdown in construction, and also due to the ongoing fires across the country.
Currently, ex-Turkey rebar offers still vary at $540-550/mt FOB for September shipment, unchanged week on week. Buyers in the Balkan region are still bidding at $530-535/mt FOB, below Turkish mills’ expectations.
In the Turkish domestic rebar market, official offers vary at $550-570/mt ex-works, up by $5/mt on the higher end over the past week, with the upper end of the range referring to the latest offers in the Marmara region. Sources report the general workable rebar prices are at $540-555/mt ex-works, down by $5/mt on the lower end week on week, with the lower end of the range referring to the latest offers in the Izmir region.
An Iskenderun-based mill has issued its official rebar price today at around $560/mt ex-works, remaning unchanged in the local currency, with a decrease of $5/mt on US dollar basis due to the ongoing currency fluctuations and for an extended delivery period. According to sources, the latest workable rebar price in this region stands at around $545-550/mt ex-works, versus $555/mt ex-works last week.
In the wire rod segment, most Turkish mills are offering for export at $550-555/mt FOB, also stable over the same period, for September shipment. In addition, workable Turkish domestic wire rod prices still vary at $550-560/mt ex-works, also stable over the past week.