Turkish mills seem to be focusing on domestic rebar sales due to relatively higher local scrap prices as well as better demand due to continuing construction projects amid the current favorable weather conditions and the government's support for the renovation of old buildings. In the export segment, the Balkan region is still active. "A few inquiries are on the table from Romania and Bulgaria for mid-December delivery, while most mills have been quoting for late December-January shipment lately," one source mentioned. CBAM is also a critical issue for possible longs sales to Europe.
Currently, ex-Turkey rebar offers are available at $555-565/mt FOB, indicating an increase of $5/mt week on week, for late December-January shipments. Most international buyers are exerting pressure for additional discounts amid ongoing currency fluctuations, though firm production costs and supportive domestic longs sales make discounts less likely.
In the Turkish domestic rebar market, official offers have remained stable week on week at $560-580/mt ex-works. Moreover, the workable levels across Turkey have settled at $555-575/mt, also unchanged over the same period. The higher end still seems a bit high for local buyers.
An Iskenderun-based mill has set its official rebar price at around $567/mt ex-works, a similar level to the previous week. Sources report the latest workable rebar prices in the region are standing at around $565/mt ex-works, versus $560-565/mt ex-works last week.
In the wire rod segment, export prices have settled at $565-575/mt FOB for late December-January shipments, rising by $5/mt over the past week. Locally, workable wire rod prices have also remained unchanged at $560-570/mt ex-works this week as wire rod buyers do not seem willing to accept any further increases so far.