Market sources confirm that billet prices in the local Turkish market are currently varying at $525-535/mt ex-works, having softened by $5/mt since last week. Meanwhile, local steelmaker Kardemir has not received any demand in its local billet sales, which it opened on August 26. Local buyers are reluctant to conclude deals in the domestic market this week, while they are seeking discounts on prices. In the meantime, a leading steelmaker in Turkey's Iskenderun region has not been accepting billet orders for a while, but instead has been focusing on slab production, causing tighter billet supply in the region and preventing any discounts on prices.
On the import side, attractive CIS and Chinese billet offers for Turkey have been attracting Turkish buyers' attention, resulting in weaker demand for local products. CIS billet offers to Turkey are standing at $515-525/mt CFR, while ex-China billet offers for the same destination can be found at $485-490/mt CFR.