Turkish official merchant bar export prices fall

Over the past week, a few Turkish merchant bar re-rollers are applying aggressive pricing policy to generate sales amid relatively lower pricing in the import billet segment. Although Turkish merchant bar re-rollers are taking the advantage of the ongoing currency fluctuations, international demand is sluggish amid the approaching holiday season in the Middle East, which is one of the target destinations. Currently, ex-Turkey official equal angle offers have mostly fallen by $20/mt to $660-680/mt FOB for late July-early August shipment.

The SteelOrbis Turkish billet daily reference export price also stands at $530-555/mt CFR versus $545-560/mt CFR, a week ago. “The main issue is even if we reduce our export offers international demand is week amid the upcoming summer and Eid holidays,” one source mentioned.

Turkish merchant bar export prices are currently at the following levels:

All prices are on FOB basis for late July-early August shipments.