Turkish Rebar: Daily Rationale - Friday, July 12, 2019
S&P Global Platts assessed Turkish exported rebar at $462.50/mt FOB Turkey on Thursday, stable on the previous day.
Turkish producers surveyed reported offers at $470/mt FOB Turkey.
A trader put tradable values at $460-$465/mt FOB Turkey. Another trader source said the lowest price was $465/mt FOB.
Other trade sources did not consider the level $460/mt FOB to be feasible. Two mills in Turkey said they would not sell at $460/mt FOB, considering recent scrap pricing.
Platts kept its assessment stable at $462.50/mt FOB, as no further downward movement was confirmed amid bearish sentiment.
No data was excluded from the assessment.
The above rationale applies to Platts' daily Turkish rebar assessment, with the associated market data code: STCBM00