International Steel City Daily: The Cost Of Raw Materials Remains High, And The International Competitiveness Of Türkiye’s Resources Continues To Decline

Recently, supported by the cost of raw materials, the rebar price in Türkiye continues to run at a high level. At present, most of Türkiye’s steel mills are quoted at USD 585-595/ton FOB, while one steel mill in Marmara region is quoted at USD 605/ton FOB. Under current market conditions, the transaction price of rebar exported from Türkiye is 590-595 dollars/ton FOB. Israel, Yemen and some South American countries can accept a transaction price of 580 US dollars/ton FOB, but Türkiye traders believe that in the case of high cost of scrap and other raw materials, the transaction possibility of this price is low.
As of the press date, the price of 1/2 (80:20) high-quality remelting scrap imported by Türkiye was 408 dollars/ton CFR, up about 4 dollars/ton from last week. Since November 27, the price of imported scrap steel in Türkiye has risen by 18 dollars/ton. At present, the market is still full of bullish sentiment. It is expected that the price of scrap steel will still have room to rise in the short term.
Two or three weeks ago, several overseas orders were reached. The traders in Türkiye said that at present, the buyers have sufficient inventory and the market demand is relatively weak. It is expected that there will be no new inquiries in the short term. In addition, due to the price advantage of local resources, African buyers have relatively low acceptance of Türkiye’s rebar quotation. On the whole, under the pressure of high costs, the rebar price in Türkiye is difficult to fall in the short term, and the market downturn may intensify.