Turkish producers try to push up their rebar prices by $5/mt over the week to $455-460/mt FOB. Most mills are offering rebar for late December-early January shipment.
Latin America becomes an important rebar export destination for Turkey while Asian rebar buyers have been quiet lately. Around 25,000 mt of rebar were traded to Peru at around $450/mt FOB last week for December shipment. In addition, inquiries are under negotiation these days, especially from Panama, SteelOrbis has learned. Turkish mills try to avoid discounts and are handling their previous export shipments at first stage.
Most Turkish buyers are in a wait and see stance due to the rapid changes in currency fluctuation. Turkish mills currently mainly offer rebar at $460-465/mt ex-works, while slightly higher levels are available from a few producers.
In the wire rod segment, most Turkish mills are currently offering wire rod at $530-540/mt versus $515-530/mt FOB, mainly for January shipment.
Israel is still one of the export destinations for small tonnage debar in coil sales. Sources report approximately 2,000-3,000 mt of S 500 grade debar in coil, extra $10/mt then the regular mesh grade, were traded to Israel at $570/mt CFR LO for December shipment this week. The average freight rate from Turkey to Israel is around $25-30/mt, SteelOrbis estimates.