Ex-Turkey merchant bar offers have increased by $20-25/mt over the past two weeks, settling at $480-490/mt FOB for equal angles. A few re-rollers are currently not quoting following the previous bookings they concluded. The increase in prices is supported by stronger scrap and billet prices.
Most merchant bar re-rollers are focusing on sales to Europe and are negotiating for the next EU quota period which begins on October 1.
As of July 29, approximately 5,000 mt out of 75,205 mt remains unused of the EU quota for Turkish merchant bar. Moreover, in terms of big-size beams (80 mm and above), Turkey’s current remaining quota is approximately,13,000 mt out of 25,197 mt for the same period.
Turkish merchant bar producers are also receiving enquiries from Latin America, the Middle East and North Africa.
Turkish merchant bar export prices are currently at the following levels:
|
Product |
Price ($/mt) |
|
Angle |
480-490 |
|
IPN-UPN |
490-500 |
|
Flat bar |
510-520 |
|
IPE |
490-500 |
All prices are on FOB basis and for September-early October shipment.