Turkish merchant bar export prices move upwards

Turkish equal angle export offers have increased on average by $15/mt to $670-680/mt FOB for December shipment amid the postive sentiment in the import scrap and billet segments. The SteelOrbis daily billet reference price is at $520-535/mt CFR Turkey. A few merchant bar re-rollers are still offering aggressive prices, slightly below the abovementioned price range, SteelOrbis has heard. 

"Trading activity to Latin America is slow due to Far Eastern merchant bar re-rollers’ aggressive pricing strategy," one source mentioned. "Most European buyers are exerting pressure for further discounts amid the unclear financial situation in the region, which limits possible merchant bar sales for the next quota period" another source added. As a result, most merchant bar re-rollers are focusing on nearby countries as well as African countries these days.

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

All prices are on FOB basis for December shipments.