Over the past week, offers of a few Turkish merchant bar re-rollers have remained unchanged against the backdrop of the ongoing currency fluctuations and sluggish demand. Currently, official ex-Turkey equal angle offers are standing at $620-640/mt FOB, for late September-October shipment.
The SteelOrbis daily Turkish billet import reference price stands at $490-505/mt, versus $480-500/mt CFR a week ago. Most international buyers are taking their time as regards new purchases and are monitoring import scrap prices. "Demand has been sluggish due to the summer holiday period in the EU" one source commented. "Most buyers in the UAE are on hold for new purchases due to Chinese suppliers' aggressive policy," another source commented.
|
Product |
Price ($/mt) |
|
Angle |
620-640 |
|
IPN-UPN |
630-650 |
|
Flat bar |
650-670 |
|
IPE |
630-650 |
All prices are on FOB basis for late September-October shipments.