SteelOrbis has learned from market sources that ex-Turkey merchant bar offers have moved down by $10-20/mt in the past two weeks. With the impact of declines registered in both local and import billet prices, expectations of buyers in the Middle East and North Africa for lower Turkish merchant bar offers have increased. Thus, demand has failed to see any improvement.
As of last week, Turkish exporters' resistance as regards prices has softened and their offers have started to move down. In the coming period, foreign buyers will likely start booking from Turkey and new ex-Turkey deals at revised prices are expected to be heard especially in Morocco and in Tunisia.
Export offers from Turkish merchant bar producers are at the following levels:
Product | Price ($/mt) FOB |
Angle | 590-610 |
IPN-UPN | 590-610 |
Flat bar | 620-640 |
IPE | 630-660 |