According to market sources, in the past three weeks Turkish merchant bar export prices have increased by $10-15/mt to the levels presented in the chart below. Market sources state that domestic merchant bar producers are experiencing difficulties amid the increase in local billet prices, which have risen to $420/mt ex-works due to the upward movement of scrap prices. Meanwhile, Turkish producers' offers are considered to be on the high side and demand in the export markets for Turkish profiles is currently sluggish. Transaction activity in Morocco, Turkey's most important export market for profiles, has also declined and is currently on the low side. However, ex-Turkey deals for small tonnages have been heard in West Africa, North Africa and in Middle Eastern markets.
Export offers from Turkish merchant bar producers are at the following levels:
Product | Price ($/mt) FOB |
Angle | 480-490 |
IPN-UPN | 480-490 |
Flat bar | 490-500 |
IPE | 500-510 |