Turkish mills mainly stop giving export prices amid uncertain conditions

Wednesday, 02 March 2022 16:17:45 (GMT+3)   |   Istanbul
       

Turkish suppliers are mostly taking their time to quote any fresh export prices against the backdrop of the positive sentiment in the import scrap and billet segment, currency fluctuations and the uncertain financial situation after Russia’s invasion of Ukraine. Most international buyers are cautious about concluding new purchases and are waiting to gain a clearer picture.

A few Turkish mills are offering rebar at $800/mt FOB, versus $750-760/mt FOB for April shipment, while most Turkish suppliers have stopped quoting fresh rebar export prices for now. A few mills also prefer to produce billet instead of rebar these days. The last small-tonnage rebar lot from Turkey was traded at $755/mt to Turkmenistan last week. Moreover, around 10,000 mt of rebar were traded to Yemen at $780/mt FOB early this week and another small lot was also traded at $800/mt FOB for May shipment.

In the local Turkish rebar market, most suppliers have closed their rebar sales, after opening them at $800-820/mt ex-works earlier today. Sources report that around 25,000 mt of rebar were traded at $770/mt ex-works in the Izmir region earlier this week.

In the wire rod segment, most Turkish mills have also withdrawn their offers. “We have closed our sales in line with the volatile pricing in the raw material and longs product segments,” one source mentioned. “Any rebar and wire rod pricing might not be realistic under the current unclear conditions,” another source added.


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