Platts Metals EMEA Turkish rebar Daily Commentary published for Oct. 5

Please note that the Platts EMEA Turkish rebar daily commentary for Oct. 5 was not published on time by Platts, part of S&P Global Energy. It has now been published and reads as follows:

Turkish export rebar price steady amid bearish demand

• Mills pull back from scrap procurement
• Domestic order books remain full currently

Turkish export rebar price remained steady on Oct. 5 amid slow sales.

Platts, part of S&P Global Energy, assessed Turkish exported rebar at $620/metric ton FOB Turkey on Oct. 5, unchanged day over day.

An offer was heard at $620/mt FOB Turkey, while a tradable level was heard at $605/mt FOB Turkey.

A Turkish mill source reported that they expect rebar prices to soften.

"I think [rebar] prices might come down a bit," the mill source said.

The mill source added that they are offering rebar at $620/mt FOB Turkey, but added that with the mills' order books being full — largely with domestic orders — there is "less price negotiation in the market."

This comes as sales into the export market remain slow and activity in the domestic market slows.

"For exports, sales seem to be very slow at the moment. Mills have pulled back from the scrap market as well, which indicates that activity is not as strong to keep mills interested in procuring material at these scrap prices," a trader said.

The trader pegged workable levels for rebar at $605/mt FOB Turkey.

"Mills now cannot sell anything in the domestic rebar market anymore, which is why prices are moving down," a recycler said.

Another Turkish mill source pegged offers for domestic rebar at $615-$640/mt EXW Turkey, further indicating a decline from $650/mt EXW Turkey, the price point at which the last deals were reported to Platts.

Platts assessed Turkish imports of premium heavy melting scrap 1/2 (80:20) at $404/mt CFR on Oct. 5, unchanged day over day.

The commentary applies to the Platts daily Turkey rebar assessment, with the associated market data code: STCBM00.

The commentary is published in Steel Business Briefing and on S&P Global Energy Core and fixed pages PMA1307,STL1307.

The delay affects only the commentary, not the price assessment or the rationale.

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