SteelOrbis has been informed that the local billet prices in the Turkish market are standing at the level of $600-650/mt ex-works, excluding VAT.
The prices in the local Turkish billet market are decreasing further due to the following factors - A decline is currently observed in the local Turkish rebar and merchant bar markets and, related to this downtrend movement, end-users have been pursuing a wait-and-see policy. For this reason, the rolling mills that buy billets are being cautious regarding the billet offer price levels in the market and are not buying billets before concluding finished steel deals.
Demand for billet in Turkey is at low levels since the tonnages and price levels of the finished steel deals are also low in both Turkey's domestic and export markets.