Ex-Turkey merchant bar offers have increased by $10/mt over the past two weeks to $510-520/mt FOB for equal angles, while slightly higher levels are available from a few producers which are already fully booked until the end of the year. The key reason for the increase is the uptrend in import scrap and billet prices. In addition, demand for merchant bars remains moderate.
The EU quota for Turkish merchant bar has already been filled for the fourth quarter, while the remaining unused volume for big-size beams (80 mm and above) is only 4,890 mt. As a result, Turkish producers have already started focusing on the new quota period, i.e., the first quarter of 2021.
Price inquiries are still being received from Latin America and North Africa. The Middle East market is silent for now. Turkish re-rollers have also gained an advantage in the Far East market due to competitive pricing compared to Chinese merchant bar sellers. In particular, some tonnage has been sold to Malaysia. “It depends on the Chinese re-rollers’ merchant bar pricing policy and the Covid 19 situation whether it will become a regular sales destination or not,” a source told SteelOrbis.
Turkish merchant bar export prices are currently at the following levels:
|
Product |
Price ($/mt) |
|
Angle |
510-520 |
|
IPN-UPN |
520-530 |
|
Flat bar |
540-550 |
|
IPE |
520-530 |
All prices are on FOB basis and for January shipment.