Turkish merchant bar export prices fall sharply

In the past week, Turkish merchant bar prices have fallen sharply on average by $30/mt to $680-720/mt FOB mainly for September shipment, while a limited tonnage is available for late August shipment amid the negative sentiment in the import scrap and billet segments. International buyers are exerting pressure for further discounts.

“International demand is generally weak. However, the Latin American market is relatively better. Hopefully, September will be a better month for merchant bar exports when the summer holiday period is over,” one source commented.

Turkish merchant bar export prices are currently at the following levels:

All prices are on FOB basis and for  Late August-September shipment.