Turkish producers have increased their rebar export prices in line with the trend of recent import scrap deals to $525-535/mt FOB. However, international buyers are in wait-and-see mode amid continuously rising rebar prices. As a result, no fresh rebar sales are heard for now.
Turkish mills in the meantime are trying to keep to their rebar prices firm while handling their previous export shipments.
Israel is still an essential export destination. A mixed cargo of 6,000 mt of rebar and wire rod was traded at the start of the week to Israel at $515/mt FOB and $585/mt FOB, respectively, for end of January shipment. Moreover, 5,000 mt of ex-Spain rebar was also traded to Israel at €415/mt ($495/mt) FOB for January shipment at the end of last week, SteelOrbis has heard. In addition, 10,000 mt of rebar was traded early this week to Bolivia at $515/mt FOB for January shipment.
In the local Turkish rebar market, sources report 30,000 mt of rebar was traded at $515/mt ex-works in Izmir region early this week, while 10,000 mt of rebar has been traded in the Izmir region at $527/mt ex-works today. In addition, one Marmara-based mill has succeeded in selling a small tonnage of around 1,000 mt of rebar at $530/mt ex-works today, though without any official confirmation by the time of publication.
In the wire rod segment, some Turkish mills are voicing wire rod prices at $595/mt FOB, up by $10/mt week on week for March shipment. A few Turkish mills have stopped giving quotations for wire rod for now. No fresh wire rod deals have been heard.
$1 = €0.84