Over the past week, ex-Turkey merchant bar prices have settled at $680-700/mt for June-July shipment, rising by $10/mt on the higher end over the past week. Some merchant bar re-rollers have concerns regarding the fragile situation in the Turkish economy and the ongoing depreciation of the Turkish lira against the US dollar and so they have raised their offer levels in order to be on the safe side.
The SteelOrbis Turkish billet CFR-based daily reference import price currently stands at $540-560/mt, versus $545-565/mt last week. "Turkish merchant bar re-rollers are finding it difficult to set a reasonable price level due to the unclear situation regarding the economy. It may be one of the slowest trading weeks in the export segment," one source commented.
Turkish merchant bar export prices are currently at the following levels:
|
Product |
Price ($/mt) |
|
Angle |
680-700 |
|
IPN-UPN |
690-710 |
|
Flat bar |
710-730 |
|
IPE |
690-710 |
All prices are on FOB basis for June-July shipments.