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Steel Finished Products Analysis


A Platts.com Data Feature


Turkish export rebar supported by strong domestic rebar sales


By Simon Price


May 12, 2015 - London - Export rebar prices out of Turkey held steady Tuesday, as strong domestic rebar sales allowed mills to keep export offer levels firm, sources said.


Platts assessed Turkish export rebar at $457.50/mt on Tuesday, stable on Monday.


Offers from three major producers were visible into the UAE at $460/mt CFR on a theoretical weight basis -- equivalent to roughly $458/mt FOB actual weight, a Turkish export trader said.


"The domestic [rebar] market has been unbelievably good," he said. Strong domestic rebar sales have driven demand for imported ferrous scrap, boosting prices and in turn forcing the export price up.




Sales into the UAE were visible in a spread of $445-$450/mt from one major Turkish producer, taking place Wednesday and Thursday, a UAE trader said. "They stopped selling Thursday as they believed they could get $460/mt because of the higher scrap price," he said.


HMS I/II 80:20 ferrous scrap CFR Turkey reached $287/mt on Friday, up from $276/mt the preceding Friday.


The cargoes amounted to a total of 40,000-45,000 mt of material, due to arrive in UAE at the end of June. The last sale marked was at $450/mt, but there was talk of a further achieved increase at $455/mt without confirmation.


Another trader in the region said that he hadn't booked anything, but these prices seemed low considering Turkish offers.


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