Turkey reduces merchant bar export prices as expected

Thursday, 26 March 2020 16:51:54 (GMT+3)   |   Istanbul
       

Some Turkish merchant bar producers have decreased their equal angle export offers by $10-30/mt over the past two weeks to $450-480/mt FOB. Merchant bar demand has been limited similar to the business activity in the rebar and wire rod sectors. A few inquiries have been reported from Africa, the Middle East and Latin America. Most North African buyers are out of the market due to the impact of the Covid-19 virus and imposed curfews. As of March 25, Turkey has utilized around 98 percent of its merchant bar quota in the EU, with the remaining quantity totaling 6,462 mt. Moreover, the quota is around 95 percent filled for big size beams (80 mm and above), with only 4,701 mt remaining to deliver. Although the “others” quota will be opened up on April 1, most European buyers are expected to wait to see the pricing trend.

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

Product

Price ($/mt)

Angle

450-480

IPN-UPN

460-490

Flat bar

480-510

IPE

460-490

All prices are on FOB basis and for May shipment.


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