Turkish rebar producers are aiming to increase their longs prices both in the local and export segments due to their higher production costs and ongoing currency fluctuations, while also claiming that prices have finally hit the bottom. However, most buyers are either in wait-and-see mode or only purchasing in line with their daily needs, particularly in the local market.
Currently, ex-Turkey rebar offers are standing at $535-545/mt FOB for August shipments, up by $5/mt over the past week. Some sources state that below $535/mt FOB was on the table early this week, but is no longer available. The general sentiment on the demand side is negative with most European buyers being on holiday, while dealing with the Middle East remains tough.
In the Turkish domestic market, official rebar prices in the Marmara and Izmir regions have remained unchanged at $530-560/mt ex-works, including the offers from Icdas A.S. The workable rebar prices in these regions have risen by $5/mt to $530-550/mt ex-works. Moreover, an Iskenderun-based mill is still offering its rebar at around $555/mt ex-works, for an extended delivery period, stable week on week. According to sources, the latest workable rebar price in this region stands at around $530-535/mt ex-works, also unchanged over the past week.
In the wire rod segment, most Turkish mills are offering for export at $545-550/mt FOB, rising by $5/mt, for August shipment. In addition, the workable Turkish domestic wire rod prices vary at $540-555/mt, rising by $5/mt on the lower end week on week.
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