Turkish merchant bar export offers have decreased by $40/mt over the past two weeks amid the negative sentiment in the import scrap and billet segments, relatively weak demand, and currency fluctuations.
Ex-Turkey equal angle prices are now available at $780-800/mt FOB, versus $820-840/mt FOB seen in mid-May. Merchant bar re-rollers in the Izmir region have attempted to set their offers close to the higher end since they are facing higher production costs due to costlier billet.
Suppliers are offering merchant bars for August-September shipments. Small tonnages are also available for end-of-July shipment. Most European buyers are waiting to hear the EU’s quota extension announcement before finalizing their purchases. According to sources, most sellers are focusing on alternative destinations like Latin America and West Africa during EU buyers’ absence. Demand coming from the Middle East is reported to be moderate.
Turkish merchant bar export prices are currently at the following levels:
|
Product |
Price ($/mt) |
|
Angle |
780-800 |
|
IPN-UPN |
790-810 |
|
Flat bar |
810-830 |
|
IPE |
790-810 |
All prices are on FOB basis and for August-September shipment.