Turkish merchant bar export offers start to decline

Despite sharp declines observed in the Turkish long steel market, both domestic and export merchant bar prices had last week successfully maintained their sideways trend. However, this week ex-Turkey merchant bar offers, which had remained almost unchanged for some time, have failed to hold their ground at $700/mt FOB, instead softening by $10/mt. Meanwhile, market players indicate that demand has not been that strong for ex-Turkey merchant bar offers in the export market and so concluded deals have only been for small tonnages. However, if mills receive high volume orders, they may reduce their offer prices.
 
SteelOrbis has learned from market sources that Turkish rolling mills are currently offering angles for export at $690-700/mt FOB on actual weight basis. In addition, IPN-UPN are being offered at $6900-700/mt FOB, flat bars are being offered at $700-710/mt FOB, 80-100-120 mm IPE is being offered at $710-720/mt FOB, 80-100-120 mm IPE A is being offered at $710-720/mt FOB and 80-100-120 mm IPE AA is also being offered at $710-720/mt FOB - all on actual weight basis and for June shipments.
 
It is possible to hear various offers depending on stock levels, region, shipment date and customer, and even lower prices from some rolling mills.