According to market sources, billet prices in the Turkish domestic market have edged up by $10/mt over the past two weeks to $530-540/mt ex-works. Meanwhile, Turkish steelmaker Kardemir has failed to receive any demand for its local billet sales, opened on August 26. Even though demand in the local market is slack, billet prices have received support from availability shortages for ready stock materials from mills.
On the other hand, the reduced ex-Ukraine billet supply volume for Turkey and reflection of this situation on prices has weakened demand for import billet in the local Turkish market. However, CIS billet offers to Turkey have been trending sideways since last week at $525-535/mt CFR.