Turkish rebar exporters are seeing reduced demand this week, following the slight recovery of recent weeks during which mills managed to sell some volumes.

The latest, large-tonnage sale was for 30,000 tonnes by a northern Turkish mill to Peru last week. Although the exact price of the sale is not confirmed by the seller, it was heard as $770/tonne fob Turkey, including extras of around $30/t.

Other than this, Turkey concluded sales to the EU, Africa, Yemen, Israel, Australia and Latin America last week. Following the US sale in the first week of the month, no subsequent deal has been heard to this destination. Although there are rumours of two mills selling to the US, the mills in question say these are old sales.

With the recent rise in freight rates and rebar prices, Turkish rebar offers, at around $800/t cfr Hong Kong actual weight, are found high in the Asian market. There are ongoing negotiations with Canadian buyers but no sales have been confirmed.

Following sales at $740-745/t fob Turkey, Turkish mills’ offers are mostly at $750-755/t fob actual weight this week. However, no sales have been confirmed yet at above $750/t fob.

Turkish mills are reported to be utilised until April.

One mill tells Kallanish: “Other than a small cargo to Israel, we have sold almost nothing this week. Both rebar and wire rod demand in the global market is non-existent.”

Wire rod offers for mesh quality, meanwhile, are at $810-830/t fob Turkey.

In Turkey’s domestic market, demand continued to be subdued on Thursday. Although most mills kept their prices at above $740/t ex-works, $735/t quotes were also available from a few mills and stockists. Turkey’s Central Bank, meanwhile, has announced it is keeping interest rates unchanged at 14% for the second consecutive month.

Amid weak steel sales, Turkish mills are seen halting scrap purchases. Only a single booking was heard on Thursday. A mill in the south is heard to have bought US-origin HMS 1&2 80:20 at $507/t and shredded at $527/t cfr Turkey. This was, however, concluded at the end of last week.