Turkish merchant bar export prices remain stable

Over the past week, most Turkish merchant bar re-rollers have kept their official equal angle export prices at $590-610/mt FOB, for November shipment, against the backdrop of sluggish international demand. "Merchant bar producers are also facing higher production costs, amid costlier import scrap and labor. However, it seems a little difficult to pass these higher production costs on to most international buyers, who are even exerting pressure for additional discounts, while possible export destinations such as North Africa are limited," one source commented.

The SteelOrbis Turkish import billet daily reference price stands at $450-485/mt CFR, unchanged week on week

All prices are on FOB basis for November shipment.