Turkish mills have been offering angles at $640-650/mt FOB for late August/early September shipments and flat bars at $650-660/mt FOB. It may be said that demand is higher from the Balkan countries in particular (except for Greece) in the current period; however, the tonnages are of course in lower amounts. As regards IPN and UPN, the Turkish mills have been mentioning shipments with much later dates e.g. late September/early October. The offers are in the range of $670-680/ mt FOB.
The domestic market in southern Europe has continued its stability as regards merchant bars. There has been no recovery in prices due to higher competitiveness, especially in small section merchant bars compared to the larger sizes, as well as due to low demand. As August is the holiday season, the domestic markets of southern Europe are likely to remain in their current state during that month.
There has been low demand for merchant bars, particularly for the IPE group, in southern Europe. Imported 120-200 mm IPEs in Spain are at $630/mt delivered to warehouse including 90-day deferred payment, whereas, in Italy, prices for 180-200 mm IPE remain unchanged at $630/ mt delivered to warehouse.
At the end of the holiday season, merchant bar prices may indicate an upward movement due to the increased demand in Europe. If we consider that China's prices will also remain high, it is possible to say that an increase may occur in the demand for Turkish origin merchant bars.