Over the past week, ex-Turkey official merchant bar prices have fallen by $10/mt to $760-780/mt FOB for April shipment, against the backdrop of the weaker import billet prices and sluggish demand due to Ramadan in Middle Eastern and North African countries. The SteelOrbis Turkish billet import CFR-based daily reference price is currently standing at $615-635/mt, versus $630-660/mt a week ago.
Most merchant bar re-rollers are in wait-and-see mode due to insufficient demand during Ramadan and also the upcoming holiday period in Israel. The main export destinations such as Saudi Arabia, the UAE and North Africa are also in their Ramadan period and are refraining from new purchases for now. Demand is also sluggish in the domestic merchant bar market in Turkey.
Turkish merchant bar export prices are currently at the following levels:
|
Product |
Price ($/mt) |
|
Angle |
760-780 |
|
IPN-UPN |
770-790 |
|
Flat bar |
790-810 |
|
IPE |
770-790 |
All prices are on FOB basis for April shipments.