Ex-Turkey merchant bar offers stable, demand on the weak side

Since early this week upward price movements have been seen in the Turkish rebar and billet market, but these movements have failed to be reflected in the merchant bar market. Turkish steel mills' merchant bar offers are considered to be on the high side by customers in the export markets, where demand has remained extremely weak. At the same time, increases in scrap and billet prices would make it difficult for Turkish merchant bar producers to revise their offers downward. Accordingly, ex-Turkey merchant bar offers have remained on a neutral price trend. 
 
SteelOrbis has learned from market sources that Turkish rolling mills are currently offering angles for export at $665-675/mt FOB on actual weight basis. In addition, IPN-UPN are being offered at $665-675/mt FOB, flat bars are being offered at $675-685/mt FOB, 80-100-120 mm IPE is being offered at $685-695/mt FOB, 80-100-120 mm IPE A is being offered at $685-695/mt FOB and 80-100-120 mm IPE AA is also being offered at $685-695/mt FOB - all on actual weight basis and for July shipments.
 
It is possible to hear various offers depending on stock levels, region, shipment date and customer, and even lower prices from some rolling mills.