The ongoing upward movement of global scrap and billet prices as of last week has helped Turkish merchant bar producers to increase their export offers, while Turkish merchant bar export prices have moved up by a total of $35/mt over the past two weeks.
It is observed that Chinese suppliers - who are now on holiday due to the Chinese New Year (February 15-21) - had increased their billet and long steel export quotations ahead of the holiday and the upward movement of their semi-finished and finished steel export prices is expected to resume after the holiday against the backdrop of the foreseen revival of trading activity in the market. Additionally, the ongoing rises seen in global scrap and billet prices are also supporting the expectations of a further increase in long steel quotations. As a result, international buyers have accelerated their price inquiries for Turkish merchant bar, particularly seeking prompt deliveries. On the other hand, SteelOrbis has been informed that Turkish merchant bar producers’ order books for March are almost full.
Turkish merchant bar export prices are currently at the following levels:
|
Product |
Price ($/mt) |
|
Angle |
615-625 |
|
IPN-UPN |
625-635 |
|
Flat bar |
635-645 |
|
IPE |
625-635 |
All prices are on FOB basis.