Scant demand and a slowdown in sales have kept Turkish merchant bar export prices steady for the fourth consecutive week.
Small parcels have been sold to consumers in the Middle East and North Africa at $710-720 per tonne fob main Turkish port, unchanged since the beginning of April, according to Turkish mills and traders.
“There is nothing new in the merchant bar market this week. The main market for Turkish merchant bar producers is Iran and Iraq for small quantities,” said a source from a Turkish producer.
“The demand for the domestic market is normal. There is no market right now. There is no correlation between scrap and merchant bar prices. We’re still offering and selling at $710-720 fob. I wish I had something new to tell you, but I don’t,” he added.
Sales to the export market have been few and far between for May production and delivery.
“No deals have been heard to Israel this week. Turkey was on holiday at the start of this week. The last price I heard was $710-720 fob,” said a trader in Israel.
The future of the Turkish merchant bar export market is uncertain due to scant demand from consumers.
The traders, stockists and fabricators that are in the market have only been purchasing small parcels to serve their immediate requirements.
“Nothing new has happened. Turkish merchant bar is still at $710-720 fob for May rolling and delivery,” said a trader in Istanbul.