Turkish rebar producers are going through a silent period in terms of exports as most European buyers are on holiday and some European buyers believe it is too early to negotiate for the next EU quota period which begins on October 1. As a result, the general picture on the demand side is negative, also as Turkish mills' major export destination Yemen has adopted a wait-and-see stance.
Currently, Turkish rebar export offers vary at $580-585/mt FOB for August shipment, down by $5/mt due to the sluggish international demand, while even $575/mt FOB is rumored to be on the table for serious buyers only. A rumored 15,000 mt rebar sale to Germany last week has still not been confirmed, while some people said if that this rebar sale actually happened it would be heard in the market immediately. There is market information about two vessels, medium-size cargoes, having arrived in Palestine for distribution in Israel but the details are unknown. In addition, the workable rebar price in the Marmara and Izmir regions varies at $585-600/mt ex-works, also falling by $5/mt on the higher end. Today, July 24, Kardemir issued its rebar price at TRY 19,550/mt ($594/mt) ex-works, excluding VAT and succeeded in selling around 13,000-14,000 mt of rebar and its rebar sales are still open.
In the wire rod export segment, most Turkish mills are offering wire rod at $590-595/mt FOB for August shipment, unchanged week on week. Turkish official domestic wire rod prices vary at $590-620/mt ex-works, while the workable price level is close to $590/mt ex-works. An Iskenderun-based mill has kept its wire rod price stable at $620/mt ex-works over the past week.