Over the past week, a few Turkish merchant bar re-rollers have been offering export prices at $660-680/mt FOB, rising by $10/mt against the backdrop of the positive sentiment in the import scrap and billet segments. Currently, official ex-Turkey equal angle offers are mostly standing at $660-680/mt FOB, for late February shipment.
The ongoing unrest in the Yemeni and Israeli markets has caused Turkish merchant bar re-rollers to focus on markets in Europe and the Middle East. "European buyers are back from the holidays and making inquiries as the quota is still available" one source commented.
The SteelOrbis daily Turkish billet import reference price stands at $540-550/mt, versus $530-535/mt a week ago.
Product |
Price ($/mt) |
Angle |
660-680 |
IPN-UPN |
670-690 |
Flat bar |
690-710 |
IPE |
670-690 |
All prices are on FOB basis for late February shipments.