Prices in the local Turkish merchant bar market have decreased by TRY 30-75/mt over the past month. Market players state that demand is still very slack and so they have had to reduce their prices despite the increases seen in import scrap prices and domestic billet offers. In the local Turkish market, merchant bar prices depending on size, thickness and region are at the following levels: small IPN-UPN are priced at TRY 1,150-1,220/mt ($400-424/mt), angles are at TRY 1,100-1,190/mt ($382-413/mt), while flat bars are at TRY 1,140-1,240/mt ($396-431/mt). All prices are ex-works, on actual weight basis, for November shipment and excluding VAT.
$1 = TRY 2.88