Another sharp fall in the import scrap prices in Turkey has resulted in a significant decline in Turkish long steel export offers, specifically in rebar export offers.
Turkish mills have cut their rebar export offers by $22.5/mt on average over the past week to $615-620/mt FOB for March-April shipments. International rebar buyers are taking their time before making new purchases in order to gain a clearer picture of the import scrap segment in Turkey. “Slightly below the abovementioned rebar price range may be offered for serious buyers,” a source mentioned. A small lot of rebar was traded to Mauritius at $620/mt FOB for April shipment earlier this week, SteelOrbis has learned.
In the local Turkish market, according to sources, mills’ rebar list prices in the Marmara and Izmir regions are currently at $610-620/mt ex-works.
In the wire rod market, a few Turkish mills are voicing offers at $700-720/mt FOB, down by $10/mt week on week, with no fresh sales being reported.