Even resumption of scrap purchases has not resulted in higher export prices for Turkish longs amid low demand. Moreover, long product prices have even dropped by $5/t since the end of last week but the decrease is insufficient to stir up foreign buyers. Steel traders expect further decreases next week: demand is unlikely to improve and prices for similar European material keep sinking.
In the beginning of this week, Turkish rebar was available for export at an average of $620-630/t fob, like in late April. Yet, some days later the prices have gone down to $615-625/t fob. In particular, Habas has been offering rebar on average at $620/t fob, Diler Holding and Izmir Demir Celik – at $625/t fob.
Specifically, Metal Expert learns about sales of small volumes (about 3,000t) to the UAE at $620-625/t fob actual weight ($640-645/t c&f theoretical weight). Offers of the material to Syria and Yemen have been coming at $615-620/t fob.
Rebar to Bulgaria has been quoted at an average of $630/t fob ($645/t c&f) in the first days of May but local customers are not in a hurry to book because domestic mills’ prices are practically the same. Turkish material has been available to Western Europe, as well as to Italy, at $625/t fob ($650/t c&f) early this month.
Mesh-quality wire rod is being offered at $635-645/t fob. Steel traders say Diler Holding has been offering wire rod to Italy at $645/t fob. At the same time, the material from Habas is quoted for export at $635/t fob.
Furthermore, US buyers have been buying Turkish wire rod at $630-635/t fob.
In the segment for export semis, Turkish square billet has been quoted by $10/t lower than a week ago – at $570-590/t fob. Steel traders report about offers coming from Izmir at $580-585/t fob. At the same time, the material from Colakoglu is still available to foreign buyers at $560/t fob.
Import prices for square billet from CIS traders to Turkey have declined over the week by $15/t, to $575-585/t c&f.
( source: metal expert- group.com)