According to market sources, Turkish producers'
billet prices have increased by $12/mt week on week to $415-430/mt ex-works amid tight supply. Market sources state that Turkish finished steel producers are focusing on import bookings of
billet and scrap to meet their feedstock needs, given the increases seen in domestic
billet prices.
Meanwhile, during the past two weeks, four Turkish producers concluded ex-China
billet deals for a total of 400,000 mt of
billet at $355-370/CFR. Chinese
billet offers to the Turkish market have increased by $5/mt week on week to $370-375/mt CFR. Also, ex-CIS
billet offers to
Turkey are still in the range of $395-400/mt CFR, while CIS-based suppliers are seeking to conclude deals after their return from their Labor Day and Victory Day holidays. However, no ex-CIS
billet deals have been concluded in the Turkish market yet.