Posted on 27 Nov 2019
A Turkish mill is confirmed to have concluded a rebar sale to the US market last Friday despite Section 232 and anti-dumping duties.
The deal consisted of 20,000 tonnes of rebar at $580/tonne cfr on a theoretical weight basis. This corresponds to approximately $420/t fob Turkey actual weight.
Following another mill’s sale to the same destination at the same price the week before, the fact that US bookings are gradually picking up is good news for Turkish rebar exports. However, sales prices are still way off Turkish mills’ targeted levels, Kallanish notes.
Turkish mills’ imported scrap demand remains sluggish, with mills evaluating the situation of scrap suppliers rather than making purchases (see separate story). Deep-sea scrap suppliers, whose orderbooks are full of deals made in previous weeks, are now playing the waiting game in hope of a price increase.
