Billet prices in the local Turkish market have this week registered a downward trend compared to last week due to the slackening import scrap prices and the slow end-user demand for finished steel products. While the floor price level has been shaped by a local producer's price announcement of $600/mt ex-works excluding VAT, it has this week been possible to find price levels of up to $650/mt ex-works excluding VAT. However, there has not been any considerable decrease in the local Turkish billet prices due to the almost stabilized rebar price levels seen since earlier this week in the same market. On the other hand, while there have been various price levels in Turkey's export offers, the general price range has been at $580-630/mt FOB Turkey.
Price levels of ex-CIS billet offers have also registered a rapid decline this week. There have been various price ranges heard from international traders and some CIS producers. It is reported that some billet deals have been concluded this week from the CIS to Turkey. Also this week, ex-CIS billet has been offered by international traders at the price range of $520-550/mt FOB CIS countries.