During the past two weeks, buyers have considered Turkish merchant bar export prices to be on the high side and so demand for Turkish merchant bar in the export markets has failed to improve.
In the same period, Turkish merchant bar export prices have increased by $10/mt on the upper end with the influence of the sharp upward movement of import scrap and billet prices in Turkey. Market sources state that Turkish steel producers consider the $10/mt rise to be insufficient as their production costs have increased during the past two weeks against the backdrop of the sharp upward movement in scrap and billet quotations. Meanwhile, Turkish merchant bar export prices have moved sideways in the current week.
Turkish merchant bar export prices are currently at the following levels:
Product | Price ($/mt) |
Angle | 460-480 |
IPN-UPN | 470-490 |
Flat bar | 480-500 |
IPE | 470-490 |
All prices are on FOB basis and for November shipment.