Turkish rolling mills' export offers for merchant bars, which had last week been on an upward course, have this week switched to a downward movement. The decrease in ex-CIS billet prices to the level of $370-390/mt FOB as well as the demand shortage appear to be the main factors in the softening seen in finished steel prices.
Accordingly, Turkish rolling mills are offering angles for export at $550-580/mt FOB on actual weight basis for November shipments. In addition, flat bars are being offered at $560-580/mt FOB, 80-100-120 mm IPE is being offered at $630-640/mt FOB, IPN-UPN are being offered at $560-590/mt FOB, 80-100-120 mm IPE A is being offered at $640-650/mt FOB and 80-100-120 mm IPE AA is being offered at $650-660/mt FOB - all on actual weight basis, excluding VAT and also for November shipments.
While Turkish mills' export offers currently show wide variation, it should be taken into consideration that some mills may give offers below the above prices depending on their stock levels.