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    Demand from Southeast Asia raises Turkish rebar export prices

    شناسه : 3121 02 مرداد 1396 - 15:46

    Turkey’s rebar export market started to strengthen with growing demand from Southeast Asia over the past week, sources said on Thursday July 20.

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    Metal Bulletin’s weekly price assessment for rebar exports out of Turkey was $460-470 per tonne fob on an actual weight basis, narrowing upwards from $455-470 per tonne. At least two Turkish producers were heard selling about 50,000 tonnes of rebar into Southeast Asia at $460 per tonne fob earlier in the week. And there has recently been market chatter about more sales into the same region at $470 per tonne fob actual weight. In the meantime, the USA and Middle East and North Africa (Mena) region were comparatively quiet. “Mena and the USA will stay quiet, I believe. Section 232 is important for the USA, but I think there will be obligations at the end of it and so Turkey will not sell the quantities that [it] sold before,” said a trading source. “It may take more time to resume the selling. I do not know what Trump intends to do with the steel market, but it looks [as though] they want [measures to protect] the country’s manufacturers as well as consumers,” he added. Meanwhile, wire rod export prices remained stable over the past week. Metal Bulletin’s weekly price assessment for wire rod exports out of Turkey was unchanged week-on-week at $470-480 per tonne fob.

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