Türkiye’s rebar price keeps stable, and the import demand of billet is stronger than that of scrap

Recently, due to the low demand in China and the promulgation of the new national standard for rebar, many Chinese steel mills actively sold their stocks, and the export quotation declined significantly. However, the export price of rebar in Türkiye has not been affected, and the overall price remains stable.

At present, the rebar price in Türkiye is about 580-590 dollars/ton FOB, and the transaction price is about 570-585 dollars/ton FOB.

According to Türkiye market news, the acceptable DC05 steel price level for buyers is about 570 US dollars/ton FOB, but it is expected that there is room for further price decline in the short term. The long steel market as a whole is very weak, with poor demand. However, the market news also said that at present, the long steel market in Türkiye is the coldest, and the rebar quotation of Türkiye Steel Plant has not yet fallen.

In addition, due to the strong competitiveness of billet quotations in the Far East and other places, Türkiye's steel DC05 steel mills are still inclined to import billets to produce long products compared with imported scrap steel in the near future.

According to market news, it is expected that the steel billet in the Far East in October will reduce the production cost of rebar in Türkiye to 560 dollars/ton.

Although there is room for Türkiye's DC05 steel rebar production cost to decline in the short term, the futures contract of Türkiye's rebar has been inverted recently, which also indicates that futures traders are optimistic about the spot price of Türkiye's rebar in the short term.