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Turkish long steel export prices rise with scrap

Keywords: Tags  steel, scrap, rebar, billet, merchants, Cem Turken

BURSA, Turkey — Turkish long steel prices have continued to increase on the back of strengthening scrap import tags.

Rebar export offers were quoted at $610 to $615 per tonne f.o.b. this past week, up $5 to $10 from the previous week, while buyers were bidding at between $600 and $605 per tonne f.o.b., sources said.

"Turkish mills have already booked scrap before the year-end and the rebar traders are expecting a strong market in the first quarter of 2013, so they are in the market for stocking," a source at a long steel producer said.

A second Turkish long steel producer source said the holiday period had slowed the market as expected, but market sentiment generally was positive.

The slightly higher steel export prices come at a time when scrap sales to the region are being completed at slightly higher levels (, Dec. 27).

Meanwhile, merchant bar offers from Turkey were quoted at $660 to $670 per tonne f.o.b. for February delivery, about $5 higher than a week earlier.

Turkish billet offers also have advanced on costlier scrap. The country’s billet offers are between $555 and $565 per tonne f.o.b. for February delivery, while billet is being priced at $555 to $570 per tonne in the domestic market, up between $5 and $15 compared with the previous week.

A version of this article was first published by AMM sister publication Steel First.

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