During the past week, demand in the local Turkish
billet market has remained at low levels as buyers have been concluding purchases only in line with their needs. However, Turkish
billet producers have increased their domestic prices by $10/mt on the lower end week on week to $340-360/mt ex-works due to the ongoing rises recorded in Chinese
billet quotations.
Meanwhile, ex-CIS
billet offers to
Turkey have moved sideways over the past week at $330-340/mt CFR. Although Chinese
billet suppliers' export prices have increased by $5/mt yesterday, August 9, Chinese
billet offers to
Turkey have remained unchanged week on week at $345-350/mt CFR.
In the short term, ex-CIS
billet offers are expected to follow the upward trend seen in Chinese
billet export quotations.