International Steel Market Daily: Turkish Rebar Export Prices Strengthened Slightly And Market Uncertainty Intensified

At present, Türkiye’s rebar exporters quote at 575-585 dollars/ton FOB, up about 5-10 dollars/ton from last week. But most market participants indicate that the actual transaction price is between 555-560 US dollars per ton FOB. Among them, the Malmara regional steel plant stated that due to the continuous high raw material costs, the lowest acceptable transaction price is currently 560 USD/ton FOB. In addition, the current domestic rebar quotation in Türkiye is USD 575-595/ton EXW.

At present, the shipping date in November has arrived, and steel mills have begun to replenish the goods. The price of imported scrap steel in Türkiye has increased slightly, and is currently stable at about 370 dollars/ton CFR. The raw materials continue to operate at high levels, and thread steel manufacturers have to increase their export quotations. However, the increase in quotation has once again exacerbated the uncertainty in overseas markets, leading to a further slowdown in demand for threaded steel. However, some market participants said that under the influence of domestic financial problems and surrounding geopolitical problems, the rising trend of Türkiye’s export rebar and import scrap prices may be constrained. On the whole, most market participants in Türkiye are pessimistic.