Market players in the local Turkish merchant bar market have only been concluding purchases in line with the orders they have received and are waiting for a clearer trend to emerge, against the backdrop of the current slowness of demand and transaction activity. Market sources state that, in particular, Turkish steel producer Kardemir's latest billet sales have had a big impact on the market, causing market players to maintain a wait-and-see approach.
Meanwhile, 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 1,140-1,240/mt ($514-559/mt), angles are at TRY 1,140-1,240/mt ($514-559/mt), while flat bars are at TRY 1,150-1,250/mt ($518-563/mt). All prices are ex-works, on actual weight basis and excluding VAT.
$1 = TRY 2.22