Turkish mills have been trying to increase their long steel export prices, supported by the positive sentiment in the raw materials segment and improved domestic demand. However, international demand remains moderate and some time may be needed to convince buyers to accept higher prices.
Ex-Turkey rebar is currently available at $425-430/mt FOB, versus $415-420/mt FOB seen last week. No fresh sales have been reported and in the meantime mills have been focusing on their domestic demand. Locally, business activity has been livelier and some large tonnages have been traded this week. Sources report that in the Marmara region at least 50,000 mt of rebar have been traded during the past two weeks with the latest deals closed at $418/mt ex-works. In the Izmir region, 20,000 mt of rebar have been sold at around $425/mt ex-works, while earlier 25,000 mt in total were sold at $416-418/mt ex-works, as SteelOrbis reported. In addition, this week Kardemir has sold 25,000 mt of rebar at $425/mt ex-works.
In the wire rod segment, Turkey’s export offers have increased by $10/mt and are currently standing at $440-460/mt FOB, with slightly higher levels also available, mainly for July shipments. This week, a 2,000-2,500 mt lot of wire rod was traded at $440/mt FOB to Tunisia for July shipment. In addition,a 500-1,000 mt wire rod lot was sold to Israel at the same price and for the same shipment term. “There is some delayed demand for wire rod which supports the mills,” a source mentioned.
$1 = TRY 6.79
