Demand in the local Turkish merchant bar market is still weak, while prices of IPN-UPN and angels have decreased by TRY 10-80/mt over the past two weeks, excluding Karabuk region. Market players state that demand is still very slack and so they have had to reduce their prices despite the strengthening of the US dollar and the euro against the Turkish lira. 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 1,230-1,350/mt ($407-447/mt), angles are at TRY 1,240-1,350/mt ($411-447/mt), while flat bars are at TRY 1,270-1,380/mt ($421-457/mt). All prices are ex-works, on actual weight basis, for September shipment and excluding VAT.
$1 = TRY 3.02