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.