Supported by the stronger scrap, Turkish mills are trying to increase their long export prices. This week, wire rod export seems to be livelier compared to the rebar one.
Most of the Turkish rebar export offers are at $420-430/mt FOB versus $410-415/mt FOB last week. Sources report rebar export is silent for now. Turkish mills are also receiving rebar enquiries from Yemen and Djibuti, some negotiations continue with buyers from Asia. According to sources, in the local market most of the traders have excessive stocks from their previous bookings and have decided to step back from the purchases. Only small lots of rebar were traded at $420/mt ex-works at the beginning of this week. In addition, 5,000 mt of rebar has been traded at $425/mt ex-works as of today. Moreover, approximately 25,000 mt of rebar has traded in Izmir region at TRY 3,400-3,420/mt ex-works as of today, SteelOrbis has learned.
In the wire rod segment, Turkey’s export offers are at $445-450/mt FOB versus $430-440/mt FOB last week, mainly for August shipments. Higher prices are being voiced as well. As of July 15, remaining wire rod EU quota is 9,235 mt out of 79,478 mt EU. A 10,000 mt batch of wire rod was traded to Romania at $445/mt FOB for September shipment. In addition, 5,000 mt of wire rod have been sold to Israel at $445/mt FOB for August shipment. Sources report mills also receive wire rod inquiries from Africa, while the local demand in Turkey has been sufficient enough.