Turkish mills have been trying to keep their long steel export prices stable, following the sharp increase seen over the week. In the meantime, the buyers are in no rush to accept the increased levels and deals are mainly being closed for small volumes in some regions.
A 4,000 mt lot of once-folded rebar has been traded to Yemen at $620/mt FOB for early February shipment. Moreover, around 2,000-3,000 mt of rebar were sold at $610/mt FOB as a trader’s position for March shipment earlier this week. A few mills have also started voicing $625/mt FOB for March shipment. As a result, most rebar export indications have settled at $615-625/mt FOB, versus $615-620/mt FOB at the beginning of this week. In addition, a few Turkish mills have recently stopped quoting due to mixed expectations in the import scrap segment.
In the wire rod market, a few Turkish mills are voicing offers at $705/mt FOB for March shipments. However, most mills are refraining from quoting any export price for now. A 2,500 mt lot of wire rod has been traded to Israel at $705/mt FOB for February shipment,SteelOrbis has learned.