Ex-Turkey merchant bar export prices for equal angles have decreased by $25-30/mt to $680-700/mt, versus $710-725/mt FOB two weeks ago, due to the negative sentiment in the import scrap segment. Most Turkish merchant bar re-rollers are offering for end of March-April shipments, while a few re-rollers are offering for extended delivery terms.
Latin America has also become a key export destination for Turkish merchant bar exports. 8,000-9,000 mt of merchant bar has traded this week to Peru at $685-690/mt FOB for end of March/early April shipment. In addition, West Africa is also active for price inquiries, SteelOrbis has heard.
Turkey has already fulfill its EU quota opened in January for merchant bars, while utilizing 51 percent of its EU quota for big-size beams (80 mm and above). Accordingly, Turkish merchant bar re-rollers are negotiating ex-EU inquiries for the second quota period which starts on April 1.
Turkish merchant bar export prices are currently at the following levels:
|
Product |
Price ($/mt) |
|
Angle |
680-700 |
|
IPN-UPN |
690-710 |
|
Flat bar |
710-730 |
|
IPE |
690-710 |
All prices are on FOB basis and for end of March-April shipment.