Ex-Turkey merchant bar prices increase slightly

Friday, 13 December 2019 17:06:31 (GMT+3)   |   Istanbul
       

Turkey’s merchant bar export prices have increased by 10/mt on the high end over the past week due to costlier scrap and billet prices, with billet import offers to Turkey mostly coming at $420-430/mt CFR for February shipments, up $10/mt over the past week. Currently, equal angle export offers are at $485-515/mt FOB, for late January-February shipments.

Turkish merchant bar producers have concluded deals for small-sized equal angles to the Middle East, Latin America and Africa for January-February shipments from $510-515/mt FOB Turkey. Moreover, SteelOrbis has heard that one ex-Turkey equal angle deal was concluded to the Middle East from $510/mt FOB Turkey for 2,000mt-3,000 mt for February delivery.

As of December 13, Turkey’s remaining merchant bar quota in the European Union (EU) is 26,989 mt out of 98,937 mt. SteelOrbis has heard that some European traders have already started seeking merchant bars for March shipments and, with the quota for ex-Turkey merchant bar to the European Union (EU) being limited, they are in no rush to purchase products from Turkey.

Turkish merchant bar export prices are currently at the following levels:

Product

Price ($/mt)

Angle

485-515

IPN-UPN

495-525

Flat bar

515-545

IPE

495-525

All prices are on FOB basis and for late January-February shipment.


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