Turkish mills' merchant bar export offers are still found to be on the high side in foreign markets, amid fairly weak demand. However, due to higher scrap and steel billet prices, the Turkish mills cannot adjust their merchant bar export offers downwards and they have forced to keep prices unchanged instead.
The already quiet steel markets have slowed down further in August with the summer holidays in Europe and Ramadan in the Middle East and North Africa. As a result, the merchant bar market is not expected to revive before September.
SteelOrbis has learned from market sources that Turkish rolling mills are currently offering angles for export at $665-675/mt FOB on actual weight basis. In addition, IPN-UPN are being offered at $665-675/mt FOB, flat bars are being offered at $675-685/mt FOB, 80-100-120 mm IPE is being offered at $685-695/mt FOB, 80-100-120 mm IPE A is being offered at $685-695/mt FOB and 80-100-120 mm IPE AA is also being offered at $685-695/mt FOB - all on actual weight basis and for September shipments.
It is possible to hear various offers depending on stock levels, region, shipment date and customer, and even lower prices from some rolling mills.