Turkish rebar-scrap margin hits 11-month low

摘要

The Turkish longs melting margin -- the spread between Turkish export rebar and imported scrap – fellto its lowest level seen since February 2019, sitting at $138.75/mt on Tuesday.S&P Global Platts assessed Turkish exported rebar at $438/mt FOB Turkey Tuesday, down $1.75/mtday on day."The mills are at a critical point - they are losing money or very close to break-even, and they need topush for an increase in finished steel prices," a trading source told Platts, adding that Turkish sellers arecurrently focusing on billet exports, with offers heard at $430-$435/mt FOB.