Turkey rebar prices decreased by another $10

Lower scrap and billet prices in global markets are increasing expectations for lower finished product prices.

Recent scrap contracts (HMS 80:20) are currently trading at $351/tonne cfr Turkey, Russia's billet offers to Turkey are trading at $480/tonne cfr at Iskenderun port and China's 150mm 5sp grade billet offers to the Philippines are trading at $515/tonne cfr.

Turkish steelmakers, which could not find demand, announced their local prices at $580 per tonne cfr, but they are down to $565 per tonne when they find demand.

Rebar prices evaluated by www.steelradar.com, by region, are as follows;

Istanbul rebar prices at 18,100 TL (-300) / $569 (-10)

Izmir rebar prices 18.000 TL (-300) / 566 $ (-9)

Karabuk rebar prices 18,100 TL (-300) / 569 $ (-10)

Payas rebar prices 18.000 TL (-300) / 566 $ (-9)