Over the past week, most Turkish merchant bar re-rollers have hiked their official export prices by $10/mt to $640-650/mt FOB amid the ongoing currency fluctuations and slightly higher import billet prices in Turkey. Currently, official ex-Turkey equal angle offers are standing at $640-650/mt FOB, for November-early December shipment. Sources report a few re-rollers are applying aggressive prices to generate sales.
The SteelOrbis daily Turkish import billet reference price stands at $495-520/mt CFR, rising by $5/mt on the lower end week on week.
A small-tonnage merchant bar sale is rumored to have been done to Latin America at around $640/mt FOB, without any confirmation by the time of publication. In addition, a few inquiries from Europe are on the table, SteelOrbis has heard. "Currently, a few merchant bar re-rollers are even testing $650/mt ex-works due to higher production costs, while the estimated freight rate and port expenses are around $60/mt. However, a few ex-Italy and ex-North Africa merchant bar offers are at around €630/mt ($690/mt) delivered," one source commented.
Product |
Price ($/mt) |
Angle |
640-650 |
IPN-UPN |
650-660 |
Flat bar |
670-680 |
IPE |
650-660 |
All prices are on FOB basis for November-early December shipment.