Turkey’s rebar and billet prices down, demand modest
Weak export and domestic sales, as well as the downturn in the import scrap segment, led to another decrease in prices for rebar and billet in Turkey.
Wire rod export prices lost $ 10-15 / t over the week at $ 700-710 / t FOB, mainly for May shipments. According to market sources, around 3,000 t was sold to Libya at $ 700 / t FOB May shipment at the beginning of the week. Some more inquiries from Libyan buyers are in the market as well, suppliers report.
Some offers from Turkey were also heard in Italy this week at $ 700-710 / t FOB.
In the local market, integrated Kardemir opened sales of 5.5 mm SAE 1008-1020 wire rod, priced at $ 725 / t EXW and 6-56 mm SAE 1018-1020 wire rod at $ 715 / t EXW. “We decided to open new sales for special qualities and low quantities with a price in the US dollars only,” a mill representative explained.
In the rebar segment, Turkish exporters are starting mostly negotiations at $ 610-615 / t FOB, $ 10 / t below the price idea of last week. Some producers are said to be ready to offer $ 605 / t FOB in case of sizeable orders. Overall export demand for Turkey’s rebar remains quiet. Buyers from Asia and Latin America are not showing much activity nowadays, waiting for lower offers.
In the billet market, import prices from the CIS are currently ranging within $ 580-585 / t CFR with bids coming at around $ 570 / t CFR. In general, buying activity is quite low, as in the scrap market, considering weak sales of long products.
Domestic billet prices in Turkey are generally standing at $ 590-600 / t EXW, down $ 10 / t since the end of last week.