According to market sources, billet prices in the local Turkish market have remained unchanged over the past week and are still in the range of $490-500/mt ex-works. Demand has been weak in the local Turkish billet market, while buyers have maintained a wait-and-see approach in order to see a clearer trend amid the continuous downtrend of scrap prices.
Meanwhile, ex-CIS billet offers to Turkey have declined by $10/mt over the same period to $465-475/mt CFR. Market sources state that CIS billet offers have softened as ex-CIS sales to the Middle East and Turkey become more difficult due to weak demand in these destinations. On the other hand, it is heard that a billet buyer in Bartin in northwestern Turkey has concluded a deal from the CIS over the past week at $470-475/mt CFR.