Over the past week, most Turkish merchant bar re-rollers have cut their official export prices only by $5/mt on the higher end to $630-640/mt FOB against the backdrop of weaker import billet prices. Currently, official ex-Turkey equal angle offers are standing at $630-640/mt FOB, for April shipment. A few re-rollers are applying aggressive pricing policies and even testing below $630/mt FOB, SteelOrbis has heard.
The SteelOrbis daily Turkish billet import reference price stands at $515-540/mt CFR, versus $515-545/mt CFR a week ago.
Although a few re-rollers are attempting to hike their export offers, they have not been supported by international demand so far. "While inquiries are received from the Balkans, Africa and Latin America, the main obstacle is the aggressive bid prices. Their asking price does not even cover the production costs," one source stated.
|
Product |
Price ($/mt) |
|
Angle |
630-640 |
|
IPN-UPN |
640-650 |
|
Flat bar |
660-670 |
|
IPE |
640-650 |
All prices are on FOB basis for April shipments.