Ex-Turkey merchant bar offers have dropped by $10-15/mt over the past two weeks to $490-510/mt FOB. However, the upper end of the range seems a bit high for the international market. West Africa is an active export destination along with the European Union (EU). Also, a few inquiries have been received from North Africa, the Middle East and the US.
As of October 8, out of the EU quota for Turkish merchant bar totaling 75,205 mt, 45,020 mt remain unused one week after the opening of the new quota period. In addition, as regards the quota for big-size beams (80 mm and above), 19,365 mt out of 25,197 mt remain unused. “I believe the EU merchant bar quota may expire faster this time compared to the previous quarter’s quota,” one source told SteelOrbis.
Turkish merchant bar export prices are currently at the following levels:
|
Product |
Price ($/mt) |
|
Angle |
490-510 |
|
IPN-UPN |
500-520 |
|
Flat bar |
520-540 |
|
IPE |
500-520 |
All prices are on FOB basis and for late November-December shipment.