Ex-Turkey merchant bar offers have risen by $5/mt on the lower end over the past two weeks to $500-510/mt FOB. The higher end is being offered only by a few re-rollers. However, Turkish merchant bar re-rollers are expected to revise their offers in line with the import scrap and billet price trend by next week.
Sources report that price inquires are being received from Latin America and North Africa. In North Africa, the Moroccan and Tunisian markets are showing greater interest than Algeria these days. “Algerian buyers are exerting pressure due to liquidity issues in the country,” one source mentioned. Also, Far Eastern buyers seem quiet for now.
As of October 23, out of the EU quota for Turkish merchant bar only 15,990 mt remains unused and approximately 2,481 mt is currently at EU ports awaiting for custom clearance. Moreover, as regards the quota for big-size beams (80 mm and above), only 7,698 mt remains unused. As a result, the EU quota for Turkey is expected to be used up fully in the short term.
Turkish merchant bar export prices are currently at the following levels:
|
Product |
Price ($/mt) |
|
Angle |
500-510 |
|
IPN-UPN |
510-520 |
|
Flat bar |
530-540 |
|
IPE |
510-520 |
All prices are on FOB basis and for December-early January shipment.