[SMM Steel] Turkey Rebar Prices Pause Decline as Mills Prioritize Cash Flow Amid Geopolitical Wait-and-See
[SMM Steel] Turkish rebar offers today held stable at 576 USD/tonne EXW. Due to the highly uncertain geopolitical situation in the Middle East (despite the US extending the sanctions waiver for Iranian crude oil shipments until August 21), both buyers and sellers generally maintain a wait-and-see stance. SMM research indicates that rebar offers from some mills in the Marmara region are slightly higher at around 585-590 USD/tonne EXW, though these usually come with extended payment terms. The export market continues to be sluggish, with Turkish rebar export offers dropping by 5 USD/tonne today to 580 USD/tonne FOB. Currently, high borrowing costs and a weak lira continue to pressure the market. In the short term, as end-of-quarter debt repayment deadlines approach, companies remain focused on generating cash flow, meaning mills are likely to offer further price cuts in the coming weeks.