Turkish merchant bar producers try to increase their export offers

Turkey’s equal angle export prices are standing at $450-470/mt FOB for December shipments, up $5/mt on the higher end compared to late October. Market sources indicate that the strength of import scrap and local billet prices has led Turkey’s merchant bar producers to increase their export offers. Although some merchant bar producers are trying to increase their offers above $470/mt FOB, international buyers are still exerting pressure on export offers, and equal angle prices above $465/mt FOB do not seem workable under current conditions.

SteelOrbis has heard that Tunisian buyers increased their stock levels in late October and that their demand is still lively. Additionally, an equal angle deal has been concluded from Turkey to Romania, for approximately 9.000-10.000 mt at €420-425/mt ($464-$470/mt) CFR Constanta for end of November-December shipment. Additionally, Turkish merchant bar producers have received price inquiries from Saudi Arabia, the UAE and South America.

As of November 7, Turkey’s remaining EU merchant bar quota is 32,946 mt of its 98,937 mt quota for the new quota period which started on July 1. As a result, Turkish merchant bar producers expect to receive enquiries from EU buyers.

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

All prices are on FOB basis and for December shipment.

€1 = $1.10