LONDON Rebar export
offers from Turkey have fallen in the past week as a religious
holiday in the country and reduced activity in Europe impacted
demand for the product, market sources told AMM sister
publication Steel First.
"We were on holiday; its
normal," one trader said of the decrease.
Turkish rebar is now on offer at
$620 to $630 per tonne f.o.b. for September rolling, down from
$625 to $650 two weeks earlier, sources said.
Significant trading activity is
expected to restart in the coming week, when most traders and
producers will have returned from celebrations to mark the end
of the holy month of Ramadan, sources said.
Prices will probably remain
stable at first as mills monitor the market to get a feeling
Producers from further afield
are starting to move into Turkeys more traditional export
markets of the Mediterranean and the Persian Gulf, however,
which will mean more downward pressure on long product prices,
"The Chinese are trying to find
new markets for their rolled products," especially as the
countrys own economy is cooling off, a second trader