Turkish mills try to pull up rebar on higher scrap, moderate sales

Friday, 11 October 2019 16:28:18 (GMT+3)   |   Istanbul

Turkish rebar export prices have increased by $5/mt during the past week to $400-410/mt FOB in most offers for end of October-November shipments. Due to international rebar demand being sluggish, the overall Turkish rebar sales remain slow, however, some volumes were traded to the regular destinations.

Turkey sold around 15,000-20,000mt to Yemen for once folded rebar at 405-410$/mt FOB for November shipment. In addition, a 5,000-10,000 mt to the Mediterranean region at $400-405/mt FOB, for the same shipment term. For Israel offers were heard at $430-435/mt CFR LO Israel at the beginning of this week. However, Israeli market faced today $5/mt price increase in rebar export prices from most of Turkish mills. In addition, one of the mills last week sold around 20,000-25,000 mt to Ethiopia of once-folded rebar at $395/mt FOB.

Turkish wire rod export prices have increased by $5/mt during the past week to $435-445/mt FOB for November shipments. Some deals were reported to the African continent, however, the details could not be disclosed by the time of publication.


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