Ex-Turkey merchant bar prices move sideways

Over the past week, most Turkish merchant bar re-rollers have kept their official equal angle export prices at $590-610/mt FOB amid sluggish international demand, for late October-November shipment. Although most merchant bar re-rollers are attempting to increase their export prices, international buyers do not yet seem to be ready for higher prices. "Most billet suppliers want to increase their prices immediately, though most merchant bar re-rollers believe it might take some time to pass higher prices on to international buyers" one source commented.

The SteelOrbis Turkish import billet daily reference price stands at $450-485/mt CFR, only up by $5/mt on the higher end over the past week.

All prices are on FOB basis for late October-November shipment.