During the past week, prices in the local Turkish
merchant bar market have increased by TRY 10-50/mt against the backdrop of the strengthening of the US dollar against the Turkish lira and due to slightly improved demand. Despite the decline in Turkish domestic billet prices by $10/mt over the past week to $400-420/mt ex-works, the gradual increases recorded in import scrap prices in
Turkey are considered to be the reason for the upward trend in
merchant bar prices. On the other hand, market players are more cautious ahead of the general election on June 7, and also due to approaching holiday season and increasing
merchant bar prices.
Meanwhile, in the local Turkish market
merchant bar prices depending on size, thickness and region are at the following levels: small IPN-UPN are priced at TRY 1,380-1,430/mt ($513-532/mt), angles are at TRY 1,360-1,420/mt ($506-528/mt), while flat bars are at TRY 1,400-1,440/mt ($520-535/mt). All prices are ex-works, on actual weight basis and excluding VAT.
$1 = TRY 2.69