Over the past week, ex-Turkey merchant bar prices have risen on average by $15/mt to $700/mt FOB for May-early June shipment, while slightly higher levels are on the table based on the region and quantity, against the backdrop of the unclear financial situation in the country ahead of the elections on May 14. A few merchant bar producers have stopped quoting any prices as the weekend approaches.
The Turkish billet import CFR-based daily reference price currently stands at $550-565/mt, versus $560-570/mt last week. A few merchant bar producers are working at reduced production capacities in order to be on the safe side under the current sluggish international demand conditions.
Turkish merchant bar export prices are currently at the following levels:
|
Product |
Price ($/mt) |
|
Angle |
700 |
|
IPN-UPN |
710 |
|
Flat bar |
730 |
|
IPE |
710 |
All prices are on FOB basis for May-Early June shipments.