Ex-Turkey official merchant bar prices soften

Friday, 01 March 2024 16:10:11 (GMT+3)   |   Istanbul
       

Over the past week, most Turkish merchant bar re-rollers have cut their official export prices by $10/mt to $630-660/mt FOB against the backdrop of weaker import scrap prices. Currently, official ex-Turkey equal angle offers are standing at $630-660/mt FOB, for late March-April shipment. Most international buyers are exerting pressure for further discounts due to the negative sentiment in the import scrap segment. As a result, the lower end seems more workable under the current market conditions.

The SteelOrbis daily Turkish billet import reference price stands at $535-555/mt CFR, versus $535-560/mt CFR a week ago.

“A few buyers in the Balkan region are only completing the missing sizes in their stocks, so they are not in a rush to restock high quantity for now,” one source commented.

Product

Price ($/mt)

Angle

630-660

IPN-UPN

640-670

Flat bar

660-690

IPE

640-670

All prices are on FOB basis for late March-April shipments.


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