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[ferro-alloys.com]Turkish steel rebar exporters raised their offers above $540/mt FOB Turkey Monday, an unexpected move given the weakness of the local rebar market and no visible improvement in export demand, sources said.

Rebar sentiment is bearish, while scrap pricing is soft, so the increase in rebar prices might be very short-lived, buy-side sources say.

But in the meantime, the minimum level is $540/mt FOB Turkey actual weight, a trader said. Another trader said rebar can fetch at least $545/mt FOB.

Asking prices heard on Monday started at $540/mt FOB. One Marmara-based producer sought $550/mt FOB.

"I got $550/mt FOB on Friday and today I hear even $560/mt FOB," a buyer in eastern Europe told S&P Global Platts.

Turkish mills are pushing for higher prices following the announcement of safeguard measures from European authorities last week, which is likely to prompt hikes from local European mills, the source said.

The real impact in the rebar market might be delayed, however, due to slowdown due to the summer holiday season in the coming weeks, he added.

"They are pushing because they sold some quantities last week, especially wire rod," an Istanbul-based trader said. He added that last week rebar was still available below $540/mt FOB Turkey as some producers were more eager to sell, even before the EU safeguard measures were announced.

Some strengthening of a Turkish lira against the dollar also implied stronger bullish movement in export markets for Turkish output.

On Monday, S&P Global Platts assessed the Turkish rebar price at $540/mt FOB, up $2/mt from Friday.

• [Editor:王可]