Over the past week, a few Turkish merchant bar re-rollers have decreased their offers by $20/mt on the lower end and have settled at $600-640/mt FOB for August shipment, versus $620-640/mt a week ago. The main reason is the weaker import scrap and billet prices.
The SteelOrbis Turkish billet daily export reference price stands at $465-475/mt CFR, versus $465-485/mt CFR previously. Sources report Yemen, Algeria and South America are active on the demand side. A small tonnage of merchant bar, below 1,000 mt, is rumored to have been sold to these destinations at $600-640/mt FOB for August shipment. "Demand is weak in Dubai and Saudi Arabia due to the adverse hot weather conditions and most international buyers are exerting pressure for further discounts," one source mentioned.
Turkish merchant bar export prices are currently at the following levels:
Product |
Price ($/mt) |
Angle |
600-640 |
IPN-UPN |
610-650 |
Flat bar |
630-670 |
IPE |
610-650 |
All prices are on FOB basis for August shipments.
.jpeg)