Due to insufficient demand, falling billet prices and the decline in scrap import, Turkish steel mills have reduced the price of rebar to domestic and foreign buyers. Market participants believe that the price of rebar in Turkey may become more flexible in the near future.
Most of the rebar exporters in Turkey tried to maintain their quotation at US $680-685/Ton FOB for shipment in October, but their target price was US $5 / higher last week. At the same time, market participants said that some steel mills were willing to complete the transaction at a substantial discount, even if the price was US $665 / FOB. At the beginning of September, foreign demand was still insufficient, and only sporadic transactions were heard in the market. It is said that some single prices in Israel, Yemen and Lebanon are US $685 FOB. In addition, it is said that the transaction in the above direction was also completed at a low level, but the details had not been confirmed at the time of release.
Expectations for the near future are mostly bearish“ Given the current situation, if demand does not improve, the price may fall to $650 /Ton FOB, "commented a source.
The local rebar market has little support for manufacturers because of the slow construction, and the price has fallen all the way to $650-680 /Ton EXW, depending on the supplier, compared with $665680 / EXW last week“ "Demand remains moderate and there is general sentiment in the market," a local trader reported. In the field of online materials, the export quotation of Turkish steel mills in October also fell to 780-790 USD /Ton FOB, compared with 790-800 USD /Ton FOB last week.
Win Road International Products
Post time: Sep-08-2021