Turkey’s merchant bar export prices have increased by $25/mt on average over the past week, mainly due to stronger import scrap prices and climbing billet offers. First-tier mills from the CIS have started to voice offers as high as $395-400/mt FOB, while the average of $390/mt FOB is considered workable as of today, SteelOrbis understands. In the scrap segment, the latest deals for deep sea HMS I/II 80:20 have been closed at as high as $268-273/mt CFR. Accordingly, merchant bar sellers in Turkey are optimistic.
As of February 12, Turkey utilized around 86 percent of its merchant bar quota in the EU, with 41,125 mt remaining out of 295,303 mt. Moreover, 1,259 mt is waiting at EU ports to be processed by customs. In addition, in terms of big size beams (80 mm and above), around 88 percent of the quota has been used, with only 12,145 mt remaining. As a result, most European buyers have stopped their purchases as imports from Turkey are becoming risky.
Inquiries for Turkish merchant bar have reportedly been coming from Latin America and the Middle East. Some sales deals have been concluded to Algeria without any details disclosed, while Tunisian buyers are expected to return to the market for new purchases by next week. In addition, sources report that interest in Turkish merchant bar from buyers in the Far East has become livelier due to the absence of China.
Turkish merchant bar export prices are currently at the following levels:
|
Product |
Price ($/mt) |
|
Angle |
480-510 |
|
IPN-UPN |
490-520 |
|
Flat bar |
510-540 |
|
IPE |
490-520 |
All prices are on FOB basis and for late March and April shipment.