Demand in the local Turkish
billet market has failed to improve since Ramadan and is still weak due to the ongoing political tension in the country following the coup attempt on July 15. Meanwhile, domestic
billet prices in
Turkey have remained stable week on week at $330-360/mt ex-works.
Additionally, the upward trend seen in import
billet offers to
Turkey has come to a halt in the current week. Chinese
billet offers to
Turkey have declined by $10/mt week on week to $325-335/mt CFR, while ex-CIS
billet offers to the same destination have moved sideways in the same period at $330-340/mt CFR.
Turkish buyers are unwilling to conclude new
billet purchases until political and economic stability is ensured in
Turkey, and so they are keeping a close eye on developments.