Market sources indicate that domestic producers'
billet prices in the local Turkish market have trended sideways since last week at $525-545/mt ex-works. Availability shortages in the domestic market have continued to be observed this week, while supplies of
billet to the market by an Iskenderun-based Turkish steelmaker have been at insufficient levels. Thus, buyers in the region have continued to focus on import offers.
Meanwhile, many Chinese
billet offers have been heard since last week in
Turkey, with one Turkish buyer concluding an ex-China
billet deal at the price level of $515/mt CFR. In the meantime, ex-CIS
billet offers to
Turkey still stand in the range of $510-520/mt CFR. Even though no bookings have been heard so far, the increased inquiries in the market are seen as a sign that new transactions will be concluded in the coming days. An important
billet supplier in Ukraine is unable to supply
billet at the moment due to overhaul work, which has caused tightness in
billet supply in the region, while also preventing CIS
billet prices from declining.