Over the past week, a few Turkish merchant bar re-rollers have raised their export offers by $10/mt to $600-640/mt FOB, against the backdrop of the ongoing currency fluctuations and costlier import scrap and billet. Currently, official ex-Turkey equal angle offers are mostly standing at $600-640/mt FOB, for November-early December shipment. “After the recent hike in import scrap prices it is difficult to offer equal angles at $600/mt FOB, so the lower end may increase further by early next week,” one source mentioned.
The SteelOrbis daily Turkish billet import reference price stands at $495-520/mt, rising by $10/mt on the lower end over the same period. Most international buyers are monitoring the import scrap price trend and taking their time before concluding new purchases. “Demand is limited due to the ongoing Israel-Hamas war. As a result, even giving an additional $5/mt discount results in getting an order in this competitive environment,” one source said.
|
Product |
Price ($/mt) |
|
Angle |
600-640 |
|
IPN-UPN |
610-650 |
|
Flat bar |
630-670 |
|
IPE |
610-650 |
All prices are on FOB basis for November-early December shipments.