According to market sources, in the last two weeks in particular the local Turkish steel market has begun to see livelier trading activity, amid the rapid strengthening of the US dollar against the Turkish lira and the conclusion of transactions for imported scrap in
Turkey at higher prices. This liveliness has also been reflected in
Turkey's
merchant bar export activity in recent days, with exporters reporting that demand for Turkish
merchant bar has improved especially in the Middle Eastern and North African markets and that they have been able to accelerate their sales. Also,
merchant bar import activity in the Iraqi market, where trading activity has been on the slow side for a while due to several factors, has indicated some improvement, while it is heard that a steel producer in
Turkey's Iskenderun region has concluded some
merchant bar sales to Iraq.
Export offers from Turkish
merchant bar producers are at the following levels:
Product |
Price ($/mt) FOB |
Angle |
470-480 |
IPN-UPN |
470-480 |
Flat bar |
480-490 |
IPE |
490-500 |