Ex-Turkey rebar export prices are currently available at $730-750/mt FOB for September shipments, while some people say $720/mt FOB levels are also on the table for serious buyers and being a result of decreasing scrap.
International buyers are silent for now as no fresh rebar deals have heard. In addition, most of them are watching closely the trend in the import scrap segment and taking their time as they believe the rebar export prices might be revised downwards taking into account the negative moods in the scrap market.
In the local Turkish market, the general rebar price range is mostly standing at $710-730/mt ex-works. According to sources, slightly lower levels are available from a few producers which are quoting aggressive pricing to generate sales. In addition, 1,000-5,000 mt of rebar were traded at $710/mt ex-works earlier this week. Local rebar demand is still silent after the holiday period and most buyers are in wait-and-see mode due to the downward trend in the last couple of import scrap deals. Moreover, sources report Kardemir A.S. is expected to open its rebar prices in short term.
Turkish mills are expected to revise their longs prices in line with the recent import scrap deals and the rebar deals which might have been concluded during the holiday period could be revealed in the market in short term, SteelOrbis estimates.