Over the past week, most Turkish merchant bar re-rollers have mostly cut their official export prices by $10/mt to $610-630/mt FOB against the backdrop of the negative sentiment in the import scrap segment and sluggish international demand. Currently, official ex-Turkey equal angle offers are standing at $610-630/mt FOB, for late May-June shipment. A few merchant bar re-rollers are applying aggressive pricing policies and even quoting slightly below $610/mt FOB to eastern Europe for small tonnages, SteelOrbis has heard.
The SteelOrbis daily Turkish import billet reference price stands at $515-535/mt CFR, falling by $10/mt on the higher end over the past week.
"It is really a challenge to quote merchant bar below $610/mt FOB, when the import prices are taken into account," one source commented. Another source stated, " This week might be one of the most silent weeks on the export side."
Product |
Price ($/mt) |
Angle |
610-630 |
IPN-UPN |
620-640 |
Flat bar |
640-660 |
IPE |
620-640 |
All prices are on FOB basis for late May-June shipments.