Turkish merchant bar export prices have risen by $80/mt over the past two weeks amid stronger scrap and billet prices. As a result, Turkish merchant bar producers are mainly offering equal angles at $760-780/mt FOB, while a few suppliers have stopped quoting since the end of last week. Most sellers are mainly offering for July-August shipment, while lots for extended delivery are also available. However, buyers require cargoes to be shipped by June 15 at the latest in order to avoid the risks from the ongoing uncertainties relating to the EU quota system.
Turkish merchant bar producers have been receiving enquiries from the Balkan region, West Africa and Malaysia. Sources report that Algerian and Tunusian buyers had already completed their purchases before the sharp price hike and that Moroccan customers have been refraining from restocking for a while now. According to sources, ex-Turkey merchant bar offers to the EU are currently at €700/mt ($845/mt) CIF Italy in containers, up by €15/mt ($18/mt) from May 6. With freight of approximately €60/mt ($72/mt), the price equals around $773/mt FOB, in the abovementioned price range.
Turkish merchant bar export prices are currently at the following levels:
|
Product |
Price ($/mt) |
|
Angle |
760-780 |
|
IPN-UPN |
770-790 |
|
Flat bar |
790-810 |
|
IPE |
770-790 |
All prices are on FOB basis and for July-August shipment.