Turkey’s equal angle export prices are standing at $450-465/mt FOB for end of November-December shipments, down $5-10/mt as compared to late September. When domestic billet deals in Turkey are concluded at $380-385/mt ex-works, ex-Turkey equal angle price offers may increase to $470-480/mt FOB. However due to buyers’ pressure on Turkey’s merchant bar export quotations in the global market, prices above $465/mt FOB does not seem workable under current conditions.
It is heard that buyers in Morocco, one of the major merchant bar market, are active in terms of bookings and an equal angle deal has been concluded from Turkey to Morocco, for approximately 5.000-10.000 mt at $470/mt CFR for early December shipment. Additionally, Turkish merchant bar producers have received price inquiries from Tunisia, Africa and the Middle East this week.
As of October 15, Turkey’s remaining EU merchant bar quota is 38,965 mt of its 98,937 mt EU merchant bar quota for the new quota period which started on July 1. As a result, Turkey’s merchant bar sales to the European countries are expected to continue for some time.
Turkish merchant bar export prices are currently at the following levels:
|
Product |
Price ($/mt) |
|
Angle |
450-465 |
|
IPN-UPN |
460-475 |
|
Flat bar |
480-495 |
|
IPE |
460-475 |
All prices are on FOB basis and for end of November-December shipment.