Turkish mills have raised their longs prices in line with costlier import scrap and billet, while international buyers seem on hold specifically in Europe due to the recent quota revisions. In addition, market players are aiming to evaluate the durability of the current import scrap price trend. The unclear trade negotiations between Trump and the European Union are another challenge faced currently. In the Turkish domestic rebar market, demand is also sluggish during Ramadan, but prices have still increased over the past week still and are in line with export prices.
Turkish rebar export prices vary at $570-585/mt FOB for April shipments, versus $565-570/mt FOB last week. However, an additional discount is applicable for serious buyers. Last week, a sale of a small tonnage of rebar was rumored to Romania at around $555-560/mt FOB, while another small tonnage to Kosovo, of around 2,000 mt of rebar, was talked about at $570/mt FOB. "Turkish mills are mostly focusing on their rebar export shipments for the upcoming European quota period which starts on April 1," a source told SteelOrbis
In the local Turkish rebar market, official offers and workable prices have settled at $570-590/mt ex-works depending on the region, up by $10/mt from a week ago. In the Izmir and Marmara regions specifically, the levels are at $570-585/mt ex-works, also rising by $15/mt week on week. In addition, two Iskenderun region-based mills are offering rebar at around $590/mt and $592/mt ex-works, for an extended delivery period, according to the current exchange rate of $1 = TRY 36.60.
In the wire rod segment, most Turkish mills have hiked their offers by $10/mt to $580-590/mt FOB, for April shipment. In addition, the workable Turkish domestic wire rod prices vary at $570-585/mt ex-works, indicating an increase of $10-15/mt over the past week.
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