Turkish scrap continues to rebound, mills try to raise rebar selling prices

The price of imported scrap steel in Turkey showed a trend of rebounding this week. On June 30, the price of imported HMS1&2 (80:20) heavy melting scrap in Turkey was 335-400 US dollars / ton CFR. The latest transactions show that about 50,000 tons of Benelux cargoes were traded to Turkey this week at prices ranging from $330-344/t CFR. Local steel mills have reported to Mysteel that the current scrap inventory of steel companies is relatively low, and the domestic demand for rebar is still stable, and they are waiting to see if there is a possibility of raising prices.

On June 29, the export price of Turkish rebar was about US$630/ton FOB. At the beginning of this week, Turkey sold a rebar to Hong Kong, China, and the order price was US$675/ton CFR, including US$40 freight, FOB price Equivalent to 635 US dollars / ton, so this week Turkey's rebar export prices are generally stable and weak.

Since the export price of Turkish rebar has not risen with the price of scrap, the difference between screw and scrap has narrowed to about US$298/ton, and steel mills have recently tried to increase the export and domestic sales price of rebar. A longs producer in the Iskanpur region said the lowest selling price to the export market last week was $615/t fob, but this week is expected to be no less than $635/t fob, another Marmara region mill The listing price is set at $650/ton FOB, but before that, it is necessary to confirm that domestic demand is good and can achieve a corresponding increase.