Turkey’s merchant bar export prices increase sharply

SteelOrbis has been informed that demand for Turkish merchant bar in the international markets has remained at low levels over the past week. Market sources state that Turkish merchant bar producers have reflected their higher production costs resulting from higher import and domestic scrap quotations in their sales prices which have increased sharply. On the other hand, the new increased Turkish merchant bar export prices have failed to gain acceptance from international buyers as buyers have started to exert pressure on prices by maintaining a wait-and-see stance. In the meantime, SteelOrbis has been informed that Turkish mills are planning to reduce their merchant bar export quotations slightly in the short term.

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

All prices are on FOB basis and for February shipment.