Ex-Turkey rebar prices are currently available at $465-470/mt, unchanged over the past week. According to market sources, a 50,000 mt rebar cargo has recently been traded to Singapore for end-of-January shipment at $477/mt CFR on theoretical weight basis, which equals around $460/mt FOB base. In the meantime, a few buyers from Singapore seem to be bidding at $465/mt CFR, but the level is considered to be hardly achievable in the current market conditions. In addition, 5,000 mt were sold to Israel at $465/mt FOB last week for January shipment.
In the local market, most Turkish mills are offering rebar at $465-475/mt ex-works. No fresh rebar sales have been heard for now.
In the wire rod segment, a few Turkish mills have raised their wire rod prices to $545/mt FOB, while some stop quoting export prices due to the lack of clarity in the market. In addition, last week 5,000 mt of wire rod were traded to Israel at $540/mt FOB for January shipment.