Turkish merchant bar producers try to follow uptrend

Ex-Turkey merchant bar export prices have increased by $5/mt on the higher end over the past two weeks to $440-460/mt FOB for equal angles. The key reason is the stronger scrap price which can result in a further rise in merchant bar prices if the trend is sustainable. In addition, demand may improve after the holiday. In North Africa, suppliers are counting on Algeria, Tunisia and Morocco. Sources report that buyers from the Far East and Latin America are coming back to the market at a slow pace. In the EU, the new merchant bar quota will be released in early July and some Turkish merchant bar producers are already in talks for possible orders with extended shipment terms, SteelOrbis understands.

Turkish merchant bar export prices are currently at the following levels:

All prices are on FOB basis and for July-early August shipment.