Turkish rebar export offers remain firm

After ending last week at $665-670/mt FOB, Turkey's rebar export offers have maintained their firmness with the support coming from increased domestic market activity.
 
Although there has not been any significant transaction activity heard in Turkish rebar mills' export markets, rebar export transactions at smaller tonnages are being concluded at $670-675/mt FOB, while for larger orders SteelOrbis has learned that buyers are not willing to pay more than $660-665/mt FOB.
 
In new rebar export transactions prices are expected to follow a sideways trend, given new scrap bookings, higher domestic rebar prices and the energy price increases announced in Turkey. In the meantime, it is thought that Turkish rebar export prices may rise if both domestic and foreign demand improves in a balanced manner.