Turkish official merchant bar export prices move downwards

Over the past week, a few Turkish merchant bar re-rollers have cut their offers by average $15/mt against the backdrop of the ongoing currency fluctuations and relatively negative sentiment in the last import scrap deals. Currently, official ex-Turkey equal angle offers are standing at $610-630/mt FOB versus $630-640/mt FOB a week ago, slightly higher levels are also available depending on the region and quantity, for September-early October shipment.

The SteelOrbis Turkish billet daily import reference price stands at $480-500/mt CFR, stable compared to a week ago. The general sentiment on the demand side is sluggish as most buyers are monitoring the import scrap price trend and currency fluctuations. The adverse hot weather condition is still an issue for the Middle East markets.

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

All prices are on FOB basis for September-early October shipments.