Ex-Turkey merchant bar prices have dropped on average by $12.5/mt over the past two weeks, with prices at $445-470/mt FOB for equal angles. Prices have fallen amid the negative sentiment in the scrap segment during this period.
As of July 2, Turkey’s merchant bar quota is 75,205 mt until October 1. Currently, a total of 1,960 mt of merchant bar is waiting are EU ports for customs procedures. Moreover, in terms of big-size beams (80 mm and above), Turkey’s current quota is 25,197 mt for the same period, while 1,438 mt of big-size beams (80 mm and above) are waiting in the EU ports for customs procedures. ‘The European merchant bar quota may be exhausted in the short term, so we are also negotiating for September shipment inquiries from Europe,’ one source mentioned.
Moreover, demand in the Middle East merchant bar market is livelier, while North African buyers have enough stocks for the time being and may be back in the market in a few weeks for additional purchases, according to sources. While North African buyers have already started sending their inquiries. The Latin American market is not very active for now.
Turkish merchant bar export prices are currently at the following levels:
Product |
Price ($/mt) |
Angle |
445-470 |
IPN-UPN |
455-480 |
Flat bar |
475-500 |
IPE |
455-480 |
All prices are on FOB basis and for August-September shipment.