As SteelOrbis has heard from market sources, Turkish rebar export offers are still standing at $585-600/mt FOB on actual weight basis, indicating no changes since last week. With an increase of $10/mt, scrap prices have reached $400/mt CFR this week, providing support for Turkish mills' export offers. However, buyers in the Middle East and North Africa have shown little interest in import offers as their local prices indicate weakness, and so demand for Turkish rebar in the region has failed to improve.
Rebar deals have been concluded in the past week from Turkey to Yemen and Lebanon at the price levels of $610/mt CFR and $600/mt FOB respectively. Meanwhile, ex-Turkey rebar transactions have still continued to be concluded in Iraq at $600-605/mt ex-works. Under the current market conditions, demand for Turkish rebar on the export side appears unlikely to improve, though Turkish mills are expected to try to push for $590/mt FOB on the low end thanks to the support from strong scrap prices.
Weekly price movements of different steel products in major markets can be viewed comparatively in the SteelOrbis Historical Steel Prices section. Market trends can thus be seen more clearly, while desired charts can be created and used in reports or presentations.