Over the past two weeks, most Turkish merchant bar re-rollers have kept their official export prices stable at $620-635/mt FOB amid sluggish demand. Currently, official ex-Turkey equal angle offers are standing at $620-635/mt FOB, for July-early August shipment.
The SteelOrbis daily Turkish import billet reference price stands at $510-525/mt, versus $518-534/mt CFR two weeks ago.
"Import scrap prices indicate a somewhat upward trend , while billet prices seem a bit more supportive. In particular Kardemir's recent S235JR grade billet sales at $535/mt ex-works this week. The advantageous billet price gives some room for merchant bar re-rollers to offer discounts for now," one source commented.
Most merchant bar re-rollers are expected to update their export prices following the fresh electricity price hike by Turkey’s Energy Market Regulatory Authority (EPDK) effective as of July 1. Sources report a few merchant bar inquiries are heard from southern Europe these days as the next quota period will begin on July 1.
Product |
Price ($/mt) |
Angle |
620-635 |
IPN-UPN |
630-645 |
Flat bar |
650-665 |
IPE |
630-645 |
All prices are on FOB basis for July-Early August shipment.
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