Similar to the situation regarding wire rod offers, the volume of Chinese billet offers to Turkey has also increased over the past week. Turkish buyers have started to evaluate cheaper Chinese billet offers due to negative market conditions. The latest ex-China billet deals concluded to Turkey at the beginning of last week were in the range of $507-508/mt CFR Marmara region. This week, billet offers from China to Turkey are at $502-508/mt CFR.
Turkish buyers have started to evaluate Chinese offers amid the tightness in availability of Ukrainian billet supplies and stronger ex-CIS offers. Meanwhile, CIS billet offers to Turkey have remained in the range of $525-535/mt CFR over the past week.