Turkish rebar producers are aiming to conclude export sales due to the relatively positive sentiment in the import scrap segment. In the Turkish domestic rebar market, most buyers are delaying new purchases amid limited financial liquidity, higher credit interest rates and the ongoing currency fluctuations. Most international buyers are also postponing their new purchases until after the Chinese New Year holiday.
Currently, ex-Turkey rebar prices still vary at $550-560/mt FOB for February shipments, unchanged over the past week. There are rumors of a sale of a lot of 8,000-10,000 mt of rebar to Syria at $550-555/mt FOB earlier this week, while another rebar sale is also rumored to Syria at a similar price level. However, the final details have not been confirmed by the time of publication.
In the Turkish domestic rebar market, the official rebar offers and workable rebar prices have respectively settled at $550-580/mt ex-works, stable week on week, and at $545-560/mt ex-works, up by $5/mt on the higher end over the same period in the Marmara and Izmir regions.
In the wire rod segment, most Turkish mills are offering at $560-570/mt FOB for February shipments, also stable over the past week. In addition, the workable Turkish domestic wire rod prices vary at $550-565/mt ex-works, down $5/mt on the lower end week on week. According to sources, Kardemir closed its wire rod sales on Tuesday, January 28, succeeding in selling around 30,000 mt of wire rod from its price list issued on Thursday, January 23.
.jpeg)