Since longs demand has been significantly limited in Turkey’s domestic market and abroad, Turkish mills have had little chance to avoid giving new discounts. As a result, rebar export offers for April-May shipments have decreased by $10/mt over the past week to $380-390/mt FOB, while even $375/mt FOB and below is considered workable by some mills. Similar levels are also available from producers in the local market in Turkey, with the lower end reported in Iskenderun. Some negotiations continue with Asian, African and Latin American buyers. The latest deal was reported as closed to Jamaica for 10,000 mt of a mixed lot of rebar and merchant bar, with the rebar price level being estimated at $370-375/mt FOB, SteelOrbis understands.
In the wire rod segment, export offers have dropped by $5-10/mt over the past week to $400-415/mt FOB in most offers. Some mills, however, have been quoting at higher levels. “The truth is there is no demand for wire rod coming from anywhere,” one of the suppliers mentioned.