Turkish merchant bar producers raise domestic offers slightly today

Turkish merchant bar producers have reduced their domestic offers lightly over the past two weeks. Turkish mills’ domestic offers have decreased by TRY 15-20/mt in most regions to TRY 2,960-3,060/mt ex-works as compared to prices recorded two weeks ago but have increased by TRY 45/mt in Turkey’s Iskenderun region in this period to TRY 2,900-2,910/mt ex-works.

Regarding the price increase in the Iskenderun region which was the exception in the national market, market sources state that the merchant bar prices in Iskenderun are still lower than overall market quotations in Turkey and so they believe this latest price range in Iskenderun will still gain acceptance from buyers. Over the past two weeks, domestic merchant bar prices in Turkey moved up at first due to the depreciation of the Turkish lira against the US dollar but then decreased once again since the higher levels were unpopular amongst buyers due to the stable trend of the Turkish lira-US dollar exchange rate.

With local elections to be held on March 31 is close, Turkish merchant bar producers have increased their domestic prices today, March 21, despite the ongoing weakness of demand, but the current price levels are below the levels shared in SteelOrbis’ report published on March 7.

Equal Angle Prices:   

Flat Bar Prices: 

NPI-NPU Prices: 

The above prices exclude 18 percent VAT and are on ex-works basis.

$1 = TRY 5.45