Turkish merchant bar producers continue to suffer

Posted on 02 December 2019

Source: Kallanish

Turkish merchant bar producers kept their export prices unchanged last week due to the low levels of demand.

Turkish re-rollers’ current offer prices stand mostly at $470-480/tonne for angles, $475-485/t for IPN-UPN sections, $480-490/t for flat bars and $475-485/t for IPE sections. These are all on a fob Turkey basis.

On the other hand, $445-450/t fob is also available from one Turkish producer that has a more favourable production cost.

A Turkish merchant bar re-roller tells Kallanish: “The market is stuck. Demand is low and customers are pushing for lower prices but, on the other hand, billet prices are high.”

Some small-tonnage angle deals were heard sold to Africa and Europe at $455-465/t fob last week.

Most Turkish re-rollers expect Kardemir to start billet sales with prices at over $405/t ex-works in the coming week.

Imported billet prices are at not lower than $400/t cfr Turkey, making it difficult for merchant bar producers to lower their prices. However, a limited number of buyers are holding out for prices at much lower levels.

Most merchant bar re-rollers are focusing on finished product sales before deciding on their billet purchases at current levels.


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