Turkey rebar, scrap declines in June weaken relativity with billet in July

摘要

Turkish steel export rebar and import scrap prices weakened since June, dampening the sector and leading Black Sea billet prices to look the strongest as of July 11, according to analysis by S&P Global Platts. The price trends led relative price strength indictors for the commodities along with billet to draw closer to expected longer-term values. The changes are seen around limited sharp price volatility around the commodities over June, with the last big move in the RSI showing up billet's relative strength at the end of May. With earlier rebar price decreases followed up by a steeper fall in scrap import prices, rebar-scrap spreads have edged a little lower. Rebar weakening over billet imports since late June has caused the spread between Turkey rebar-Black Sea billet imports to fall.