Turkish mills are still facing difficulties in the rebar export segment as most international buyers have been exerting pressure for further discounts in line with the negative sentiment in the import scrap segment. In addition, Ramadan is approaching and sales to the Middle East may be limited. However, some fresh ex-Turkey rebar sales to Yemen have been heard in the market. The situation in Israel, which is one of the main sales destinations for Turkey, is still not so promising due to the ongoing war.
Currently, ex-Turkey rebar offers are standing at $605-615/mt FOB for March and April, falling by $5/mt over the past week. According to sources, some rebar tonnage is reported to have been sold to Yemen at around $595-600/mt FOB on actual weight basis. In addition, a 10,000 mt of rebar sale is rumored to be sold to Albania at around $590-595/mt FOB. Moreover, another rebar lot sale of 5,000 mt has also rumored to Ethiopia at $590/mt FOB. In the Turkish domestic market, the official rebar price range varies at $605-625/mt ex-works in the Marmara and Izmir regions, versus $625-640/mt ex-works a week ago. Sources report around 9,000-10,000 mt of rebar were traded at $605/mt ex-works in the Izmir region earlier this week.
In the wire rod export segment, offer levels are at $615-620/mt FOB, versus $625-635/mt FOB previously, for shipments in March-early April. The local official wire rod prices are at $620-650/mt ex-works, versus $635-665/mt ex-works last week. According to sources, a small tonnage of mesh grade wire rod was also traded at $615/mt ex-works earlier this week. One Iskenderun-based mill has issued its wire rod price at $630/mt ex-works today, February 28. Kardemir has kept its 6-27 mm SAE 1008-1010 grade wire rod price stable at $635/mt ex-works since Wednesday, February 21.
.jpeg)