The Turkish export rebar steel market slid sideways Thursday in another quiet session, although sources expect further weakness as 2015 winds down.
Platts assessed Turkish export rebar at $330/mt FOB Turkey on Thursday, unchanged from Wednesday.
The last reference sales in the market continued to be those earlier in the week to the UAE at $340/mt CFR theoretical weight ($330/mt FOB actual weight).
A UK trader said Wednesday this price was too high for Egyptian players, who want a further $5-$7/mt reduction from $330/mt before they would begin to make any purchases.
A European trader said on Thursday that little had changed in the market, leaving it in a range of $330-335/mt for export.
The price drop desired by Egyptian buyers would probably be seen next week, he added.
The bearish sentiment was echoed by a Turkish seller, who said $330/mt was no longer achievable for shipments to the US and that $325/mt FOB actual weight would be a more realistic price level.
"Rebar is going down more," he said, adding that he had completed his order books for December sales into the local market at higher levels.
Sources more involved in the ferrous scrap market agreed that the market was unchanged. A Turkish agent for European scrap sources put rebar pricing still at $330-335/mt.
