Demand on the slack side in the Turkish billet market

Tuesday, 08 July 2014 17:46:39 (GMT+3)   |   Istanbul
       

According to market sources, local producers' prices in the Turkish domestic billet market have remained unchanged at $515-520/mt ex-works over the past week, while transaction activity has been on the weak side.
 
Rebar exports from Turkey's Iskenderun region to Iraq have ground to a halt due to the crisis in this country. Accordingly, Turkish rebar producers in the Iskenderun region have been targeting their local market instead, resulting in domestic oversupply.  Market sources state that an improvement in rebar prices is unlikely in the Iskenderun region in the current situation, given the weak demand in the market.  This overall situation prevents any uptick in prices in the Turkish billet market.
 
On the other hand, ex-CIS billet offers to Turkey are still at $501-510/mt CFR, indicating no change over the past week. Last week, ex-CIS billet deals to Turkey were concluded at $501-503/mt CFR.

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