As of June 12, a few Turkish merchant bar re-rollers have cut their export offers by $10/mt on the lower end week on week to $615-635/mt FOB for July shipment amid sluggish demand and the negative sentiment in the import scrap segment. However, additional discounts are applicable for serious buyers depending on the tonnage and the region. Most buyers in the Middle East are in wait-and-see mode due to the Iran war and the re-closure of the Strait of Hormuz. A few inquiries for small tonnages are heard from North Africa and South America, SteelOrbis has been informed.
Meanwhile, the SteelOrbis Turkish import billet daily reference price stands at $510-525/mt CFR, down by $5/mt on the higher end from a week ago.
Product |
Price ($/mt) |
| Angle | 615-635 |
| IPN-UPN | 625-645 |
| Flat bar | 645-665 |
| IPE | 625-645 |
All prices are on FOB basis and for July shipment.
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