Turkish merchant bar export offers move down due to weak demand

Friday, 13 September 2019 12:11:36 (GMT+3)   |   Istanbul
       

Turkey’s merchant bar export prices have decreased by $25/mt as compared to levels recorded on August 23, with angle prices declining to $460-480/mt FOB in this period. According to sources, levels slightly below $460/mt FOB is currently achievable for actual angle purchases.

It is heard that Moroccan buyers returned from their holidays at the beginning of September but adopted a wait-and-see stance due to the ongoing downtrend of import scrap prices in Turkey. Additionally, Turkish merchant bar producers have received price inquiries from Tunisia, Libya, Egypt and Latin America this week. Most Turkish rolling mills are heard to be offering products for October shipments to the international market.

As of September 12, Turkey has already used 48,853 mt of its 98,937 mt EU merchant bar quota for the new quota period which started on July 1. As a result, Turkey’s merchant bar sales to the 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

23.08.2019

Angle

460-480

-25

IPN-UPN

470-490

-25

Flat bar

490-510

-25

IPE

470-490

-25

 

All prices are on FOB basis and for October shipment.


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