Turkish merchant bar export offers move sideways

Wednesday, 31 July 2019 17:17:19 (GMT+3)   |   Istanbul
       

Turkey’s merchant bar export prices have moved sideways during the past week, with angle prices at $500-520/mt FOB.

After the fall recorded in upstream billet prices, which are now standing at $430-440/mt ex-works, some rolling mills are expected to find it easier to conclude export sales. Meanwhile, SteelOrbis has been informed that Turkish merchant bar suppliers are still receiving price inquiries from the Far East, West Africa and South America. North African buyers, especially from Morocco and Tunisia, are also heard to be giving firm bids to Turkey. Market sources indicate that acceptable price levels in these two latter markets are below $500/mt FOB Turkey.

Meanwhile, as of July 30, Turkey has already used 32,584 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

24.07.2019

Angle

500-520

 

0

IPN-UPN

510-530

 

0

Flat bar

530-550

 

0

IPE

510-530

 

0

 

All prices are on FOB basis and for August shipment.

 


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