According to market sources, ex-CIS billet offers to Turkey have increased by $5/mt over the past week to $280-285/mt CFR, for November shipment. Meanwhile, Turkish buyers’ firm bids are in the range of $278-279/mt CFR, but CIS-based suppliers continue to insist on their current prices, citing the rising trend of import scrap prices in Turkey. However, no new ex-CIS billet deal has been heard in Turkey yet.
On the other hand, Chinese billet offers to the export markets have increased since some Chinese producers have reduced their production. Ex-China billet offers to Turkey have risen by $5/mt on the upper end over the past week to $260-275/mt CFR.