Over the past week, ex-Turkey official merchant bar prices have decreased on average by $15/mt to $750-760/mt FOB for April shipment, amid the negative sentiment in the import scrap and billet segments. The SteelOrbis Turkish billet export CFR-based daily reference price currently stands at $590-620/mt, versus $615-635/mt a week ago.
Middle Eastern and North African buyers are taking their time before concluding new purchases due to Ramadan. In addition, Italian merchant bar re-rollers are applying aggressive prices in the EU, which is pulling back Turkish merchant bar re-rollers. "Ex-Turkey merchant bar prices on FOB basis nearly equal Italy's CFR-based prices, which is a big challenge." one source mentioned. A few inquiries have been heard from Vietnam, SteelOrbis has heard.
Turkish merchant bar export prices are currently at the following levels:
|
Product |
Price ($/mt) |
|
Angle |
750-760 |
|
IPN-UPN |
760-770 |
|
Flat bar |
780-790 |
|
IPE |
760-770 |
All prices are on FOB basis for April shipments.