Turkey-based merchant bar producers have not been able to avoid discounts in their pricing, taking into account currency fluctuations, low international demand and the uncertain import scrap segment situation. As a result, over the past two weeks merchant bar export offers from Turkey have decreased by $10/mt on the lower end. In particular, the base prices for the equal angles have settled at $770-800/mt FOB. Some suppliers, according to sources, have been quoting even lower levels, aiming to generate sales.
Turkish mills are now in the market to sell for August-September shipments of merchant bars, but some of them are offering with longer lead times. Most European buyers are active after the latest news regarding the quota system renewal, though they are looking for September shipments in order to target the quota period starting on October 1. In addition, a few inquiries have been also received from Latin America, SteelOrbis has learned.
Turkish merchant bar export prices are currently at the following levels:
|
Product |
Price ($/mt) |
|
Angle |
770-800 |
|
IPN-UPN |
780-810 |
|
Flat bar |
800-830 |
|
IPE |
780-810 |
All prices are on FOB basis and for August-September shipment.