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Tel : 0086-0371-86172891
At the beginning of this week, the rebar export quotation of Türkiye HX380LAD+ZM Steel Works was the same as that of last week, maintaining around 590-600 US dollars/ton FOB. During the week, the export price of rebar fluctuated and rose to $610-620 per ton FOB, with a month on month increase of $20 per ton. The actual transaction price has also significantly increased, from $585-600/ton FOB at the beginning of the week to $590-610/ton FOB. During the week ending December 8th, wire export prices continued to rise by $10 to $620-630 per ton FOB.
From the perspective of raw material costs, the supply of scrap in Europe and the United States is slowing down seasonally, and the shipping costs of deep-sea scrap imported into Türkiye are rising. Türkiye's HX380LAD+ZM steel mills plan to lock up materials and pay fees before the expected supply shortage in winter. In its latest short-term outlook, the International Association of Threaded Steel Producers and Exporters (Irepas) said that the recent surge in scrap prices in Türkiye was driven more by tight supply than demand. Although the increase in scrap steel prices has pushed up the price of rebar, the sustainability of price increases is questionable due to the relatively low demand for rebar in the global market under winter conditions.
In terms of rebar transactions, it was rumored this week that a large batch of orders were sold to Europe at a price of $600/ton FOB, with a transaction date of December 5th. However, as of the time of publication, confirmation has not been received. Another small batch transaction of 2500 tons sold to the Balkan Peninsula at a FOB price of $610 per ton has been confirmed, which means that large orders may be able to negotiate lower feasible price levels for trading.
Domestically, the price of rebar in Türkiye's domestic trade is about USD 715-780/ton EXW, up about USD 65/ton compared with last week. The wire price is around 760-780 USD/ton EXW, an increase of 15-20 USD/ton from last week, and the specific pricing level varies by region.
Overall, due to the tight supply of raw materials, seasonal increase in energy prices, and sluggish demand for rebar, the cost of electric arc furnace HX380LAD+ZM steel mills has sharply increased, and steel mills are facing a situation of profit contraction. Türkiye's steel mills have no choice but to raise prices or reduce production. It is expected that the rebar market price in Türkiye will be dominated by strong shocks.
