Turkish rebar producers give aggressive offers to Southeast Asian market

Turkish long steel producers' rebar export offers have softened by about $5/mt on the upper end since last week, declining to $605-615/mt FOB on actual weight basis, for late August shipments.
 
However, it is reported that Turkish mills are currently giving much more aggressive offers to the Southeast Asian market for large volumes. Accordingly, SteelOrbis has learned from market sources that two Turkish producers have lately given rebar offers to Singapore at the price range of $620-630/mt CFR on theoretical weight basis, a price range significantly lower than Turkish rebar offers to the Middle Eastern market, when calculated on FOB basis. Although it is not confirmed that Turkish mills' offers have succeeded in gaining acceptance yet, it is believed that even lower prices may result in actual transactions.