Weak international demand for Turkish merchant bar

International demand for Turkish merchant bar has not improved over the past two weeks and is still at low levels. The depreciation of the euro against the US dollar as well as the ongoing traditional summer holidays in the European Union (EU) has caused demand for Turkish merchant bar in the region to trend weak. Market sources state that Turkish merchant bar producers have received price inquiries from markets such as Africa, Middle East and Latin America but demand in those regions has not reached to strong levels. On the other hand, Turkish merchant bar exporters have reduced their offers by an average of $5/mt during the past two weeks due to lower import scrap and billet quotations.

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

All prices are on FOB basis and for August shipment.