<span>Turkish rebar exporters still cannot attract foreign customers. For this reason, they have to keep making reductions expecting foreign buyers, mainly Middle Eastern ones, will start replenishing their empty stocks before Ramadan. At the same time, the latter prefer to wait for a while trying to knock prices down further in such a way. As a result, market players believe, as just few contracts have been made this week, suppliers may reduce quotations by another $5-10/t next week. <br> Meanwhile, Turkish rebar of July rolling is available to foreign buyers at $710-720/t FOB, by $15-20/t lower than in mid June. Although early this week prices were by $5/t higher (in particular, Habas material was priced at $725/t FOB and that from Diler Holding – $720/t FOB), most deals were closed in that period, while by the end of the week customers have realized they may get larger discounts and left the market. <br> So, contracts for Turkish rebar were reportedly signed with Egyptian customers at $715-720/t FOB on average. At the same time, Egyptian traders report they have stockpiled enough import material and prefer to make no purchases waiting till local producers return to the market with new offers in early July. Some UAE buyers were booking up to 5,000-tonne lots at $715-720/t FOB actual weight ($730-735/t C&F theoretical weight), while many of them press for further decreases. Those from Iraq have started to test the market buying only small volumes of rebar. Exporters may not rely on some other customers from the Middle East, including Yemeni ones, as political situation remains unstable in the region, though the latter have rather low stocks. <br> Foreign buyers' activity in the wire rod segment remains sluggish, which resulted in a $15/t decline in export prices for mesh-quality material from mid-June levels. Nevertheless, given that most companies are selling bulk of the material to be made in the second half of August in the domestic market at prices by $20-50/t higher than export ones, suppliers discount to buyers from abroad just willing to close August order book as soon as possible. <br> Overseas buyers of semis, in turn, refuse to purchase August casting, since they prefer shorter delivery period. Nevertheless, Turkish sellers have lowered offers just by $10/t over the week, expecting limited supply of CIS square billet will allow them to do a number of deals by the end of the month. At the same time, Ukrainian square billet of July production can be bought by Turkish customers mainly from traders at $670-675/t C&F, by $40-45/t lower than export prices for local rebar. As a result, bids are coming by $5-10/t lower. <br> ( <a href="http://Source:%20www.metalexpert-group.com"><span><font size="3" face="Times New Roman">Source: www.metalexpert-group.com</font></span></a> <span> </span>)</span>