Ex-Turkey merchant bar prices move sideways despite rising raw material costs

Most Turkish merchant bar re-rollers have kept their official equal angle export prices stable at $590-610/mt FOB, for December shipment, amid sluggish international demand. Although both import scrap and billet prices to Turkey have risen gradually, Turkish merchant bar re-rollers are struggling to increase their export prices as international buyers seem unwilling to accept higher prices. A few merchant bar re-rollers are applying aggressive pricing policies and even offering below the abovementioned price range depending on the tonnage and payment terms.

The SteelOrbis Turkish import billet daily reference price stands at $455-485/mt CFR, versus $453-475/mt CFR last week.

All prices are on FOB basis and for December shipment.