Over the past week, most Turkish merchant bar re-rollers have decreased their official export prices by $15/mt on the higher end to $630-645/mt FOB amid the weaker import scrap and billet prices. Currently, official ex-Turkey equal angle offers are standing at $630-645/mt FOB, for April shipment. Most international buyers are monitoring the import scrap price trend and postponing their new purchases.
The SteelOrbis daily Turkish billet import reference price stands at $515-545/mt CFR, versus $535-555/mt CFR a week ago.
"The import scrap prices have already hit or are too close to hit the bottom level, I believe the merchant bar export prices might rebound next week", one source commented. However, the general sentiment on the demand side seems negative so far.
Product |
Price ($/mt) |
Angle |
630-645 |
IPN-UPN |
640-655 |
Flat bar |
660-675 |
IPE |
640-655 |
All prices are on FOB basis for April shipments.
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