International Long Product Market Analysis

摘要

For the moment at least, long product weakness is not to be seen in China or Turkey, or Russia for that matter. Typically, a rebar and raw material benchmark spread is considered a robust illustration of a representative rebar producer's sales margin. Tracking Steel First's weekly Turkish rebar FOB benchmark versus Steel First's HMS No.1 2 scrap (from northern Europe) CFR Turkey benchmark over the last three years shows us that the rate of decline in the difference between the two benchmarks (the spread), has slowed and even sporadically reversed over the past few months.