Longs exporters from Turkey have as expected attempted to increase their offers, following the uptrend in the import scrap segment.
Rebar export prices from Tukey have increased by $5/mt week on week to $405-415/mt FOB, with most mills offering for November shipments. Foreign buyers are trying to put pressure on the Turkish mills; however, if the rise of the scrap prices continues, the mills might have a greater chance of resisting.
Turkey has sold around 4,000-5,000 mt of rebar to Lebanon at $405-410/mt FOB for November shipment this week. In addition, 2,500-3,000 mt was last week sold to Israel at $405-410/mt FOB, for the same shipment period. According to the sources, some negotiations for decent tonnages have been ongoing with Iraq within $420-430/mt ex-works Iskenderun. Buyers from Yemen and Australia were also reported as present in the market. Some negotiations might revive with Panama, SteelOrbis understands.
Ex-Turkey wire rod export prices have increased by $5/mt on the low end during the past week to $440-445/mt FOB for November-December shipments. One of the mills concluded a deal to Israel for 18,000 mt at $440/mt FOB for November shipment this week. Market sources indicate that Haiti, which is one of the regular markets for Turkish wire rod sales, is expected to return to the market with orders in November. Malaysia is also mentioned as a potential buyer. Some Turkish mills seem to be more focused on local sales and are offering for export for end of December shipments.