Turkish rebar producers are attempting to raise their longs export prices amid scrap suppliers’ firm stance on their prices. However, most international buyers are in wait-and-see mode in order to evaluate the market situation and the price prospects.
Currently, ex-Turkey rebar export prices are standing at $630-650/mt FOB for August shipment, versus $610-630/mt FOB offered at the end of the month. A few enquiries were received from Yemen and negotiations continue. “Some Turkish mills were offering rebar at $590/mt FOB on theoretical weight earlier this week and are now trying to increase their rebar prices by $20/mt to $610/mt FOB on theoretical weight,” a source told SteelOrbis. In the local Turkish rebar market, a few mills are currently offering rebar at $620-640/mt ex-works in the Marmara and Izmir regions, up by $20/mt over the past week. A few local traders are restocking material as they believe the market will be better due to the firmness of import scrap prices.
In the wire rod export segment, a few mills are offering $640-700/mt FOB for September shipments, up by $20/mt on the higher end.