The Turkish long product market has seen a turn-up in the last week of April. Thus, at the end of last week export rebar prices dropped by $25-30/t just in several days but this failed to stimulate purchases in the Mediterranean region as buyers expected the prices to fall further. However, in the last days of April there have appeared rumours in the Turkish market about large bookings of scrap by Chinese and then Turkish steelmakers, and most Turkish longs makers have sit on the sidelines. At that time, export prices for rebar were reported to have grown. Nevertheless, demand for construction steel remains soft and this boom is considered to be provoked by market participants in order to somehow stop prices from dropping further.
Early this week, Turkish rebar was available to foreign buyers at $615-620/t fob (minus $30-40/t in several days). Yet, by the end of the month the prices reportedly reached $630/t fob and even $640/t fob. The situation has become clear just on Friday when export prices for Turkish rebar settled at $620/t fob. In particular, traders say these levels have been voiced by Ekinciler and Kaptan Steel.
Specifically, market participants report a deal with Yemeni buyers at $620/t fob actual weight ($640/t c&f theoretical weight). At the same time, prices for the material to Syria have decreased to $620-625/t fob, the material produced in the previous months has been available at $600/t fob.
Prices for mesh-quality wire rod have declined in a week by $30-40/t, to $640-650/t fob. Traders say the material from Kroman was available at $640-645/t fob in the middle of the week. Italian buyers could book similar products at $655-660/t fob May delivery.
Export prices for Turkish billet have been quoted at $580-600/t fob (minus $30-40/t over the same period). At the same time, market players report the material from Colakoglu is available to foreign buyers at $560/t fob.
Import prices for square billet from CIS traders to Turkey have dropped by $10-15/t, to $590-600/t c&f. Metal Expert learns about a deal at $590/t c&f Izmir.