Turkish rebar producers are negotiating for possible new export orders as most international buyers are returning from the holiday season. Inquiries are heard from the Balkan region, Europe and Latin America. In addition, Turkish domestic rebar prices have softened due to the ongoing currency fluctuations and sluggish demand. Import scrap prices have shown some slight weakening in a couple of deals, which supports the cautious mood in the finished steel sector as well.
Currently, ex-Turkey rebar prices vary at $560-570/mt FOB, versus $570-575/mt FOB two weeks earlier. The lower end seems mostly valid for higher tonnage inquiries, such as those from Latin America. The cargoes are available for late January-February shipments. A fresh rebar sale of 30,000 mt is rumored to Albania at $555-560/mt FOB this week, however it is not confirmed by the time of publication.
In the Turkish domestic rebar market, the official rebar prices and the workable rebar prices have respectively settled at $560-580/mt ex-works, down by $5/mt on the lower end, and at $555-565/mt ex-works, down by an average of $7.5/mt in the Marmara and Izmir regions, including Icdas A.S.’s prices.
In the wire rod segment, most Turkish mills are offering at $570-580/mt FOB, down by $10/mt for late January-February shipment, over the same period. In addition, workable Turkish domestic wire rod prices vary at $565-575/mt ex-works, also down $10/mt on the higher end.