Cheaper billet, competition pressure Turkish merchant bar prices
urkish merchant bar producers faced strong price pressure from buyers last week due to the decline seen in billet prices.
On Friday, producers’ official export quotes were pegged mostly at around $605-630/tonne fob Turkey for angles, IPN-UPN sections, flat bars and IPE sections.
Although there were inquiries about Turkish merchant bar in the global market, buyers pressured prices, specifically after Kardemir opened billet sales on Thursday at $10/t lower than its previous price list. Tough global and domestic competition was another factor that challenged Turkish merchant bar producers. Consequently, sales remained far from sufficient for mills throughout last week.
Although some European buyers inquired last week about Turkish merchant bar for September shipment, sales remained unsatisfactory. In North Africa, a major market for Turkish merchant bar producers, two Turkish mills were active with competitive prices. No demand was heard in South America.
Post time: Jul-02-2024