Turkey’s merchant bar export prices have moved down by $10/mt on the lower end during the past week, with angle prices decreasing to $500-520/mt FOB.
With production costs at high levels due to the upstream billet prices standing at $435-445/mt ex-works, some Turkish mills state that it is hard to offer merchant bar at $500/mt FOB to the export markets. Meanwhile, SteelOrbis has been informed that Turkish merchant bar suppliers are mostly receiving price inquiries from the Far East, West Africa and South America.
Meanwhile, as of July 23, Turkey has already used 31,244 mt of its 98,937 mt EU merchant bar quota for the new quota period which started on July 1, and there are just approximately 550 mt of merchant bar at ports waiting to be processed by customs. As a result, Turkey’s merchant bar sales to European countries are expected to continue for some time.
Turkish merchant bar export prices are currently at the following levels:
|
Product |
Price ($/mt) |
Price change |
|
|
18.07.2019 |
|||
|
Angle |
500-520 |
↓ |
10 (lower end) |
|
IPN-UPN |
510-530 |
↓ |
10 (lower end) |
|
Flat bar |
530-550 |
↓ |
10 (lower end) |
|
IPE |
510-530 |
↓ |
10 (lower end) |
All prices are on FOB basis and for August shipment.