Over the past week, most Turkish merchant bar re-rollers have decreased their official export prices by $10/mt on the lower end to $640-670/mt FOB amid weaker import scrap prices. Currently, official ex-Turkey equal angle offers are standing at $640-670/mt FOB, for March-April shipment. A few merchant bar re-rollers are even testing below $640/mt FOB for equal angles for serious buyers, depending on the region and tonnage, SteelOrbis has heard. "It is really a challenge to quote under $640/mt when the current import billet prices are taken into account" one source commented.
The SteelOrbis daily Turkish billet import reference price stands at $535-560/mt CFR, versus $545-560/mt CFR a week ago.
" Most Italian and Chinese merchant bar re-rollers are applying aggressive pricing strategies in Turkey’s targeted export destinations. Even European buyers are exerting pressure for further discounts and are aiming for below $640/mt FOB, as EU quotas are still not exhausted for the period which began on January 1," another source commented.
|
Product |
Price ($/mt) |
|
Angle |
640-670 |
|
IPN-UPN |
650-680 |
|
Flat bar |
670-700 |
|
IPE |
650-680 |
All prices are on FOB basis for March-April shipments.