SteelOrbis has learned that in the local Turkish merchant bar market, prices have remained unchanged as compared to last week. If the Turkish lira continues to fluctuate downward against the US dollar, merchant bar prices may be revised again in the coming days. In the Turkish domestic market, merchant bar demand is low and local buyers are adopting a wait-and-see stance as regards concluding deals, against the background of dollar/lira exchange rate fluctuations.
In the local Turkish market merchant bar prices are depending on size, thickness and region are at the following levels: small IPN-UPN are priced at TRY 1,246-1,300/mt ($696-726/mt), angles are at TRY 1,246-1,300/mt ($696-726/mt), while flat bars and square bars are at TRY 1,290-1,320/mt ($721-737/mt). All prices are ex-works, on actual weight basis and excluding VAT.
Also, it should be considered that some mills may give offers below these levels depending on their stocks.
US$1 = TRY 1.79