Turkey’s merchant bar export sales slack, pricing softens

Friday, 20 September 2019 17:43:10 (GMT+3)   |   Istanbul
       

Turkey’s merchant bar export prices have decreased by $5/mt as compared to the levels recorded on September 13, with angle prices declining to $455-475/mt FOB. According to market sources, levels slightly below $455/mt FOB are also achievable for actual purchases from some producers.

It is heard that Moroccan buyers are still in wait-and-see mode for fresh merchant bar deals. Additionally, Tunisia is expected to be back with the inquiries shortly. Market sources indicate that sales of containerized products are being concluded instead of bulk sales due to low international demand. Most Turkish rolling mills are heard to be offering products for October shipments these days.

As of September 19, Turkey has already used 50,394 mt of its 98,937 mt EU merchant bar quota and 2,830 mt of the mentioned product is waiting at EU ports to be processed by customs, leaving some considerable space for sales. However, EU buyers are largely inactive given the current falling market. In addition, their domestic suppliers are said to be rather aggressive in pricing nowadays, thus undercutting imports, SteelOrbis understands.

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

Product

Price ($/mt)

Price change

13.09.2019

Angle

455-475

-5

IPN-UPN

465-485

-5

Flat bar

485-505

-5

IPE

465-485

-5

All prices are on FOB basis and for October shipment.


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