Over the past week, most Turkish merchant bar re-rollers have raised their official export prices by $10/mt on the lower end to $620-630/mt FOB against the backdrop of costlier import billet. Currently, official ex-Turkey equal angle offers are standing at $620-630/mt FOB, for late October- November shipment. Sources report a few re-rollers are applying aggressive pricing to generate sales and are even quoting $600/mt FOB depending on the size. Moreover, a few re-rollers are also testing slightly above $630/mt FOB, SteelOrbis has heard.
The SteelOrbis daily Turkish import billet reference price stands at $475-490/mt CFR, rising by $10/mt on the lower end over the past week.
As sales to Latin America seems a little difficult due to freight rates, most Turkish re-rollers are focusing on the Balkans and the Middle East for possible merchant bar export sales. "Turkish merchant bar prices may be considered workable for the Balkans this week, while Italian merchant bar suppliers may apply aggressive pricing policies in the short term," one source commented.
Product |
Price ($/mt) |
Angle |
620-630 |
IPN-UPN |
630-640 |
Flat bar |
650-660 |
IPE |
630-640 |
All prices are on FOB basis for late October-November shipment.
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