Local
production billet prices in the Turkish domestic market are currently standing at the level of $400-435/mt, excluding VAT. However, looking at the
rebar prices in the market (particularly in traders) are at the price level of $425/mt excluding VAT, it seems that the rolling mills in
Turkey is not showing significantly interest in the abovementioned local
production billet prices. On the other hand, it seems that the Turkish producers, which have high
scrap stock levels, will not likely decline their
billet prices to the local rolling mills' desired levels.