Turkish rebar exporters have officially decreased their prices for February shipments by $7.5/mt to $435-440/mt FOB, while a week earlier the export levels were mainly available only in deals for sizeable tonnages. The key reason is the sizeable decrease in the import scrap segment which has created rather negative sentiment in the finished steel markets as well. As a result, business activity for rebar exports has been slow as buyers are taking their time to decide on new purchases. Some inquiries have been reported from Romania, Ethiopia and Latin America.
In the wire rod segment export, offers are at $455-465/mt FOB for February shipments, down $5/mt week on week. Some mills have started to sell for March shipments at slightly above $465/mt FOB. Around 5,000-6,000 mt were sold to Morocco, while 7,000-8,000 mt were closed to Senegal, both at $465-470/mt FOB, for March shipments. Some 6,000-7,000 mt have recently been sold to Central America at $460-465/mt FOB for March shipment.