Turkish rebar offers climb despite resistance from export markets

摘要

Turkish exported rebar prices strengthened slightly as offers from suppliers continued to climb. Buyers, particularly in Europe, remained cautious about further price hikes, however, sources said Sept. 7. Although some asking prices were still reported at $460-$465/mt FOB, the new target reported by several sources reached $470/mt FOB Turkey. The new higher offer level widened the gap with the buyers’ price expectations, still largely below $460/mt FOB Turkey. According to a European trader, who booked a few thousand metric tons of Turkish rebar at $450/mt FOB last month, the price level above $450/mt FOB was still not competitive, particularly with the recent rebound in the US dollar against the euro.