Prices down in competition for Turkish sales

摘要

Following bids in the KyubishevAzot sales tender for 20,000 mt AS on April 1 at $115/mt FOB, prices have continued to deteriorate. Igsas reportedly secured cover for its 20,000 mt requirement for April and May this week at $120/mt CFR including 180 days credit basis four-port discharge. If correct, the sale reflects a return no better than $100/mt FOB, but details of the alleged transaction could not be independently verified at press time.