Turkish merchant bar remains stable despite costlier billet

Due to demand slowing on-week, Turkish merchant bar producers kept their prices unchanged last week despite the increase in billet prices.

On Friday, Turkish producers’ quotes stood at $660-680/tonne fob Turkey for angles, $670-690/t for IPN-UPN sections, $680-700/t for flat bars, and $670-690/t for IPE sections.

Although they concluded sales to Latin America, Africa, the Middle East and EU, Turkish merchant bar producers failed to reach the sales volumes of the previous week.

A Turkish merchant bar producer told Kallanishon Friday: “Buyers were cautious this week. Even though we have seen an increase in scrap and billet prices, they initially wanted to wait for China’s return. I am expecting to see stronger demand next week.”

Turkish merchant bar producers expect better market conditions in the coming week and are preparing for higher price offers.

Billet prices, meanwhile, have increased to $585-590/t ex-works in the Turkish domestic market, while CIS offers stand at $575/t fob Black Sea.