Turkish merchant bar export offers increase significantly

Friday, 20 November 2020 14:19:23 (GMT+3)   |   Istanbul
       

In the past two weeks, Turkish merchant bar export offers have risen by $45-60/mt to $555-580/mt FOB for equal angles, for February shipment, with a limited quantity available for end-of-January shipment. This price increase has been triggered by the significant increase in import scrap and billet prices. International merchant bar demand is moderate, with sales concluded to regular destinations.

Turkish re-rollers are receiving inquiries from Latin America, North Africa (specifically Morocco), Central America and West Africa. Sources report that Malaysian buyers are currently refraining from concluding new purchases in order to gain a clearer picture from Chinese re-rolllers. Moreover, the current Turkish merchant bar and big-size beam (80 mm and above) quota to the EU has already been used up. As a result, new inquiries from EU buyers are under negotiation for the new quota period which begins on January 1.

Turkish merchant bar export prices are currently at the following levels:

Product

Price ($/mt)

Angle

555-580

IPN-UPN

565-590

Flat bar

585-610

IPE

565-590

All prices are on FOB basis and for late January-February shipment.


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