Competition heats up in the Turkish merchant bar market

Tuesday, 28 September 2010 17:11:32 (GMT+3)   |  
       

With buyers in the Turkish merchant bar market this week hesitating as regard new purchases, beam rollers are forced to follow different strategies for their sales. Discounts made in local sales prices at the end of the last week continue to be seen this week also.

Starting the current week with price decreases, Turkish rollers are trying to convince buyers with attractive prices as competition heats up between the different regions of the country. This week, angles are heard to have been offered at TRY 980-990/mt in the Denizli region of Turkey and at TRY 960-970/mt in the Izmir region - both exclusive of VAT, while angles starting to be offered at TRY 920-930/mt and TRY 905-945/mt excluding VAT respectively in the Karabük and Iskenderun regions may be indicative of the competition in local market sales prices.

The $/TRY exchange rate at the level of 1.47 has also been reflected in local market prices. Although steel billets purchased on dollar basis create a price advantage for rollers for the time being, the weakening of finished product demand reduces the impact of this advantage. Looking at exports, US buyers have been acting cautiously as regards purchases; meanwhile, although the increased strength of the euro against the US dollar has given Turkish rollers an advantage over their European counterparts in sales to North Africa, the shrinking of international demand is also making its impact felt on the merchant bar side.


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