Over the past week, most Turkish merchant bar re-rollers have cut their official export prices by $10/mt to $650-670/mt FOB amid the relatively negative sentiment in the import scrap and billet segments. Currently, official ex-Turkey equal angle offers are standing at $650-670/mt FOB, for March shipment. A few merchant bar re-rollers are offering equal angles at $640-645/mt ex-works today, so this level may on the table for serious buyers depending on the region and tonnage.
The SteelOrbis daily Turkish billet import reference price stands at $545-560/mt CFR, down by $5/mt on the higher end from a week ago.
"Demand is sluggish and most international buyers are taking their time before concluding new purchases, waiting for the Chinese New Year holiday to end. As a result, although a few inquiries are heard, they have not turned into actual sales" one source commented." Due to the limited supply, certain sizes are high-priced and being quoted for extended delivery periods," another source mentioned.
|
Product |
Price ($/mt) |
|
Angle |
650-670 |
|
IPN-UPN |
660-680 |
|
Flat bar |
680-700 |
|
IPE |
660-680 |
All prices are on FOB basis for March shipments.