Copying and distributing are prohibited without permission of the publisher

Turkish merchant bar exporters slash prices by $20 on softening scrap costs

February 10, 2012 - 12:03 GMT Location: London

KEYWORDS: Metal Bulletin Turkish merchant bar prices

Turkish merchant bar exporters have cut February export prices by $20 per tonne on softening ferrous scrap costs and sluggish demand.

Mills and traders have been struggling to secure orders, and deals have been scarce. The few buyers that are in the market have bought only small tonnages, Metal Bulletin was told. Merchant bar was sold this week at $700-710 per tonne fob...

All material subject to strictly enforced copyright laws. © Euromoney Institutional Investor PLC.

Please log in using your online subscriber details.
Your username will be your registered email address with Metal Bulletin.

If you aren't a subscriber yet, feel free to take a seven day free trial, or subscribe using the instructions below.

A standard subscription include one year's worth of news and prices. You can also upgrade to the full archive and benefit from more than 13 years of intelligence. Start your subscription today.

Free trial

Taking a free trial will give you open access to Metal Bulletin online news, prices, archived content and email alert service for the next seven days. Start your free trial today.

Free trial

Already have an account?

Carbon Steel Long Products

May 24, 2012 18:48 Wire rod offers to India down by $20 per tonne
May 24, 2012 18:33 LME BILLET REPORT: Three-month official prices fall to $400/410 per tonne
May 24, 2012 17:43 ArcelorMital discusses anti-pollution policy, plans more high-strength steel research
May 24, 2012 17:23 Local billet prices in Turkey hold steady for second week
May 24, 2012 17:05 Turkish domestic rebar prices steady on buyer hesitation

Comment & analysis

EXPERT VIEW FROM ERNST & YOUNG: Horror week favours the brave

Seven days is a long time in the investment world, but last week must have felt longer than most.
COMMENT: When super-cycle poster child BHP Billiton trims its plans...

BHP Billiton is one of the poster children for the commodities super-cycle: a mining company whose immense upstream assets in copper and iron ore have fed the industrialisation of China since the early years of the 21st century and enabled it to return $52 billion to shareholders between 2001 and 2011.
LORD COPPER: There is nothing to fear after JP Morgan loss ...

So, here we go again. Another bank, another huge trade gone bad. This one doesn’t even appear to have been a case of rogue trading; a whole desk seems to have been operating with the full knowledge of the management and/or risk committee.