Over the past week, local Turkish official merchant bar prices have fallen by TRY 20-300/mt ($4-18/mt) amid currency fluctuations and the unclear situation in the import scrap segment. Turkish merchant bar producers are still quoting Turkish lira-based prices instead of prices on US dollar basis in order to offset currency fluctuations amid the unclear financial situation in the country. Additional discounts are applicable for serious buyers only. One Iskenderun-based mill has issued its official merchant bar price at TRY 13,880/mt, excluding VAT, ($709/mt) ex-works today.
Most merchant bar sellers are offering for May delivery and only limited tonnages are available from stocks. A few re-rollers are also offering their HEA/HEB (100-200 mm, standard) at TRY 17,500/mt, excluding VAT, ($894/mt) ex-works, falling by TRY 200/mt ($14/mt) over the past week.
Most local buyers are showing some signs of panic amid the rapid depreciation of the Turkish lira against US dollar and are purchasing only in line with their daily needs ahead of the elections in Turkey on Sunday, May 14.
Equal Angle Prices:
|
Region |
Prices (TRY/mt) |
Prices ($/mt) |
Price change (TRY/mt) |
Price change ($/mt) |
|
Denizli Region (30-100 mm) |
14,680-14,880 |
750-760 |
-40 |
-5 |
|
Karabuk Region (30-100mm) |
13,700-13,900 |
700-710 |
-300 |
-18 |
|
Iskenderun Region (30-100 mm) |
13,880-14,080 |
709-719 |
-20 |
-4 |
|
Izmir Region (30-100 mm) |
14,480-14,680 |
740-750 |
-40 |
-5 |
Flat Bar Prices:
|
Region |
Prices (TRY/mt) |
Prices ($/mt) |
Price change (TRY/mt) |
Price change ($/mt) |
|
Denizli Region (30-100 mm) |
14,720-14,920 |
752-762 |
-40 |
-5 |
|
Karabuk Region (30-100mm) |
13,740-14,940 |
702-712 |
-300 |
-18 |
|
Iskenderun Region (30-100 mm) |
13,920-14,120 |
711-722 |
-20 |
-4 |
|
Izmir Region (30-100 mm) |
14,520-14,720 |
742-752 |
-40 |
-5 |
NPI-NPU Prices:
|
Region |
Prices (TRY/mt) |
Prices ($/mt) |
Price change (TRY/mt) |
Price change ($/mt) |
|
Denizli Region (30-100 mm) |
14,680-14,880 |
750-760 |
-40 |
-5 |
|
Karabuk Region (30-100 mm) |
13,700-13,900 |
700-710 |
-300 |
-18 |
|
Iskenderun Region (30-100 mm) |
13,880-14,080 |
709-719 |
-20 |
-4 |
|
Izmir Region (30-50 mm) |
14,480-14,680 |
740-750 |
-40 |
-5 |
The above prices exclude 18 percent vat, are on ex-works basis and for cash payment. Price changes in the tables above are calculated as compared to Thursday, May 4.
$1 = TRY 19.57