No billet price increase was seen this week in the Turkish, CIS and European producers' offers to the local and export markets due to current market uncertainty and due to the general wait-and-see policy observed in the billet export markets. It should be mentioned that the uncertainty in question has been caused by the lack of expected levels of interest in the offers from Italy and Spain to North Africa, and is also due to the fact that the Turkish producers have experienced some difficulties in determining their domestic market strategy because of the delay in the official announcement of the local Dubai rebar prices.
In the 26th week, CIS billet export offers have been at price levels of $1,200-1,220/mt FOB, and it is known that traders with previously taken positions have been offering at lower price levels compared to these. It is also heard that since the beginning of the week there have been some offers from the CIS at price levels of $1,210-1,250/mt CFR Turkey.
On the Turkish domestic market side, coming up to the end of the current week, billet prices have been at price levels of $1,250-1,280/mt ex-works, excluding VAT, while Turkish billet export offers have been at $1,260-1,270/mt FOB.