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Turkey screw threaded steel bar market remain sluggish

According to relative report, Turkish export prices of screw threaded steel bar dropped by $15/mt on the low end over the past week to $375-400/mt FOB. Meanwhile, transaction activity has significantly slowed down in Turkish screw threaded steel bar export markets this week due to increasing import scrap prices and fluctuating trend of US dollar and euro currency rate, which is exerting cautiousness among buyers Therefore, Turkish exporters have only succeeded to conclude screw threaded steel bar deals in North Africa, while Egypt and Iraq steel rebar markets were weak in terms of transaction volumes.


At the meantime, Turkish players‘ rebar offers to the US market have declined by around $5/mt over the past week and have started to range at $400-405/mt CFR FO US Gulf ports, on theoretical weight basis. US buyers think that it might be better to place rebar orders before the trend reversal and so they have increased their inquiries for Turkish steel rebar.

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