Ex-Turkey merchant bar prices trend up

Friday, 03 February 2023 15:27:06 (GMT+3)   |   Istanbul
       

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.


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