Ex-Turkey merchant bar prices supported by firm scrap, stronger billet

Friday, 05 June 2020 16:05:03 (GMT+3)   |   Istanbul
       

Ex-Turkey merchant bar prices have inched up by $12.5/mt over the past two weeks to $450-475/mt FOB for equal angles, supported by stronger local billet prices and the sustainable uptrend in the import scrap segment. However, there is some resistance from the buyers’ side as sources say that levels above $460/mt FOB are hard to achieve. Moreover, a total 12,000 mt of merchant bar has been traded to Egypt, Tunisia, Morocco and Libya at $445/mt FOB for July shipment this week. Merchant bar buyers in Latin America and Middle East are currently postponing new purchases and they seek to evaluate the market. Merchant bar prices are expected to be revised based on the billet trend.

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

Product

Price ($/mt)

Angle

450-475

IPN-UPN

460-485

Flat bar

480-505

IPE

460-485

 
All prices are on FOB basis and for late July-August shipment.


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