Domestic billet prices in Turkey have remained unchanged during the past week at $410-430/mt ex-works, while demand in the local Turkish billet market has remained at low levels in the same period as buyers have maintained their cautious stance as regards concluding new purchases. However, billet supply volumes in Turkey have declined amid the ongoing power outages in industrial regions in the country and due to buyers focusing on finished steel sales instead of billet sales. As a result, Turkish steel producers have been able to keep their domestic billet quotations stable in the past seven days.
Meanwhile, import billet offers to Turkey have also moved sideways week on week at $405-445/mt CFR. Market sources state that no new import billet deal has been heard in Turkey this week.