Ex-Turkey merchant bar prices decrease amid weaker scrap

Turkish merchant bar export prices have decreased by $15/mt on average over the past two weeks, amid weaker scrap and billet prices. Most suppliers are offering for November-December shipment, with limited tonnages available for October shipment depending on the size and the product.

Ex-Turkey equal angle offers are standing at $700-720/mt versus $720-730/mt FOB depending on the supplier and order books, over the  same period. Sources report North African buyers have become active in the market, while Malaysian buyers are delaying new purchases. The upcoming EU quota which begins at October 1, is expected to be filled within a very short period. As a result, Turkish suppliers have already started negotiating for December shipment for the next quota round which begins on January 1, 2022.

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

All prices are on FOB basis and for November-December shipment.