Over the past week, ex-Turkey official merchant bar export prices have risen by $20/mt to $750-770/mt FOB for February-early March shipment, against the backdrop of higher import scrap and billet prices, while the SteelOrbis daily Turkish billet import CFR-based reference price is standing at $595-605/mt, versus $580-595/mt a week ago.
Most international buyers are maintaining a wait-and-see stance and are monitoring the import scrap price trend while taking their time before concluding new purchases. "International demand is sluggish. As a result, most merchant bar re-rollers are attempting to compensate for the lack of export sales with domestic merchant bar sales," one source mentioned.
Turkish merchant bar export prices are currently at the following levels:
Product |
Price ($/mt) |
Angle |
750-770 |
IPN-UPN |
760-780 |
Flat bar |
780-800 |
IPE |
760-780 |
All prices are on FOB basis for February-Early March shipments.