Over the past week, a few Turkish merchant bar re-rollers have cut their export offers by $10/mt against the backdrop of sluggish international demand. Currently, official ex-Turkey equal angle offers are standing at $610-630/mt FOB, for October shipment, while even slightly lower levels were heard earlier this week.
The SteelOrbis daily Turkish billet import reference price was at $495-520/mt earlier this week, versus $495-505/mt CFR a week ago. According to sources, ex-Russia billet offers may increase due to the anticipated export tax which could be applicable from October 1, 2023, until December 31, 2024. So, billet offer prices are expected to gain clarity soon.
A group of entrepreneurs from Peru and Turkey met last week in Lima to discuss the imports of steel products from Turkey to Peru, according to Monica Chavez, foreign trade manager of the Lima Chamber of Commerce (CCL). After the meeting, trading activity to Peru is expected to gain momentum. " A few inquiries have been received with various size and small-tonnage requirements, while Turkish merchant bar re-rollers are capable of satisfying the demand," one source mentioned. The estimated freight rate to Peru is around $100/mt, SteelOrbis has heard. " When this freight rate is taken into account, selling to Peru at the existing export prices seems a little difficult," one source noted.
|
Product |
Price ($/mt) |
|
Angle |
610-630 |
|
IPN-UPN |
620-640 |
|
Flat bar |
640-660 |
|
IPE |
620-640 |
All prices are on FOB basis for October shipments.