Posted on 31 Oct 2025
Turkish long steel producers have kept export offers unchanged from last week, despite continued weak demand.
Mills’ official export offers on Thursday stood at $550-555/tonne fob Türkiye actual weight for rebar and $555-565/t fob for mesh-quality wire rod, unchanged from last week’s ranges.
Sales activity was even quieter this week due to the Republic Day holiday on 28-29 October. Limited demand and buyer price pressure are challenging mills’ ability to maintain current levels. Some transactions were reportedly concluded at or below $545/t, leaving producers operating at a loss despite firm scrap prices and costlier billet.
A trader tells Kallanish:” Unless scrap falls, which seems unlikely amid approaching holidays and winter conditions, there is no room for further price cuts. Even current levels offer no margin for Turkish mills.”
A mill comments: “Those holding off purchases expecting lower prices will regret not buying today. We are already at the bottom.”
A western Turkish mill says there are no notable-volume inquiries that would help to improve utilisation and margins. “If an inquiry has a little more reasonable tonnage, the bid price falls immediately. Buyers are making the most of the buyers’ market conditions,” he notes.
In Türkiye’s domestic market, although stockists are operating with low inventory levels, they are not eager to replenish stocks amid persisting financial constraints. However, activity is expected to improve in November, ahead of harsher winter conditions. On Thursday, mills’ rebar offers stood at $538-555/t ex-works and demand remained limited to buyers’ urgent needs.
In the scrap market, no new bookings were reported this week. However, suppliers continue to resist lower levels targeted by Turkish mills. US and European suppliers remain unwilling to sell at below $350/t and $340/t cfr Türkiye, respectively. Some mills were heard returning to the market with fresh scrap inquiries on Thursday. On the billet side, following Turkish mills’ bookings at $455-457/t cfr in previous weeks, China-origin offers are now at above $470/t cfr.
Source:Kallanish
