Over the past two weeks, a few Turkish merchant bar re-rollers have cut their offers by $10/mt amid the negative sentiment in the import scrap segment and sluggish international demand. In addition, a few merchant bar re-rollers are applying aggressive prices and are even testing levels below $650/mt FOB, SteelOrbis has heard. Currently, ex-Turkey official equal angle offers have settled at $650-670/mt FOB for late July-early August shipment.
The SteelOrbis Turkish billet daily reference import price stands at $505-530/mt CFR, versus $530-555/mt CFR previously. “Although a few enquiries are on the table, it is difficult to conclude deals under the current market conditions,” one source mentioned.
Turkish merchant bar export prices are currently at the following levels:
|
Product |
Price ($/mt) |
|
Angle |
650-670 |
|
IPN-UPN |
660-680 |
|
Flat bar |
680-700 |
|
IPE |
660-680 |
All prices are on FOB basis for late July-early August shipments.