The main reason behind the rise is a
signifcantly stronger scrap along with still sufficient domestic demand. Moreover, there are some chances for mills to improve export sales on certain destinations, though suppliers are mainly not in a rush and are trying to see a clearer market picture. Current offer prices for September shipments of rebar fromTurkey are ranging within $475‑۴۸۵/t FOB depending on mill, up by around $5‑۱۰/t over the week. Considering that the trend in scrap and billet segments looks positive, producers are not in a hurry to sell large volumes. “Scrap is moving up so if move big quantities [of rebar] now, they might lose some part of proft in these sales,” a trading source told Metal Expert.Active inquiries are coming from Southeast Asia (Singapore, Hong Kong), as well as from the Mediterranean area and the EU. “The [euro/dollar] parity is supporting so soon we might see some sales to Europe,” a source believes. “For export they can achieve $475‑۴۸۰/t FOB levels soon,” he adds. In the meantime, supplies to the local market is still a priority despite a certain slowdown in sales due to currency fluctuations. ICDAS announced new prices to the local market at $497/t (TRY 2,070/t) CFR Marmara and $490/t (TRY 2,040/t) EXW Biga, up by $15‑۱۶/t (TRY 30/t) since early July.The current general offer level for rebar in Turkey is $487‑۴۹۵/t (TRY 2,030‑۲,۰۶۰/t) EXW depending on region, by $5‑۷/t up over the week. “Demand is still good, we expect it to continue like that till the end of July and for some part of August also,” a producer told Metal Expert. Prices in the lira include 18% VAT, offers in the US dollars do not. The exchange rate is $1 = TRY 3.53.
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