As of April 3, a few Turkish merchant bar re-rollers have raised their export prices by $20-30/mt to $640-650/mt FOB compared to March 27, for late April-May shipment. The main reasons for the increase are higher production costs, in particular higher import scrap and billet prices, as well as increased energy prices due to the war in the Middle East. "Buyers in countries where high tonnages are consumed like Yemen and North Africa are unwilling to accept sharp price increases and are exerting pressure for further discounts," one source commented. "A small tonnage of merchant bar passed through customs in Bulgaria after the new EU quota round began on April 1," another source commented. "UK buyers may also be more active due to the unrest in the Middle East," another source mentioned.
Meanwhile, the SteelOrbis Turkish import billet daily reference price stands at $495-530/mt CFR, up by $10/mt on the lower end over the past week.
If the anticipated increases in electricity and natural gas prices in Turkey materialize, most merchant bar re-rollers are expected to increase their export offers further in the near term.
Product |
Price ($/mt) |
| Angle | 640-650 |
| IPN-UPN | 650-660 |
| Flat bar | 670-680 |
| IPE | 650-660 |
All prices are on FOB basis and for late April-May shipment.
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