In the last two weeks, ex-Turkey merchant bar prices have fallen by $20/mt on average, while some additional discounts are applicable for the firm bids. The main reasons are the negative sentiment in the import scrap segment, high freight rates and the ongoing currency fluctuations. Most Turkish merchant bar producers are offering for October-early November shipments.
Turkish equal angle export prices are currently available at $720-730/mt FOB depending on the supplier and the order books. Sources report Dubai and Balkans markets are still active, Malaysian merchant bar buyers are having their time, being overstocked. In addition, some inquiries are being received from North Africa and Latin America, SteelOrbis has learned.
Turkish merchant bar export prices are currently at the following levels:
Product |
Price ($/mt) |
Angle |
720-730 |
IPN-UPN |
730-740 |
Flat bar |
750-760 |
IPE |
730-740 |
All prices are on FOB basis and for October-Early November shipment.