The stronger import scrap prices seen in the latest ex-US deal have caused rebar offers from Turkey to move up.
Ex-Turkey rebar export offers have reached $600-610/mt FOB, versus $590-600/mt FOB week on week. “Turkish mills rebar offers are at a minimum of $600/mt FOB for now,” a source said. “The market is still blurry and may become much clearer in the coming days,” another source commented to SteelOrbis. Most Turkish mills are offering for April shipments, while a few producers are voicing offers for early May. According to sources, a lot of around 13,000-15,000 mt of rebar has been traded to Israel at $600-605/mt FOB for April shipment this week. In addition, a 5,000 mt lot of once-folded rebar has been traded to Yemen at $610/mt FOB for April shipment this week.
In the local Turkish market, around 40,000 mt of rebar have been traded in the Marmara and Izmir regions at $587-595/mt ex-works since the beginning of this week. The traders’ spot rebar prices are at $593-594/mt ex-warehouse as of February 11, while mills’ prices have been standing at $595-605/mt ex-works in the Marmara region.
In the wire rod market, some Turkish mills are voicing export offers at $690-700/mt FOB for April-early May shipments, stable week on week. A 3,000 mt lot of wire rod has been traded to Israel at $690/mt FOB for April shipment this week.