According to market sources, Turkish producers' billet prices have increased by around $15/mt since last week to the range of $400-420/mt ex-works on the back of strong import scrap prices in the Turkish market.
Meanwhile, this week ex-CIS billet offers for Turkey have increased by $5/mt on the upper end compared to last week to the range of $380-390/mt CFR. A buyer in Turkey's Izmir region concluded an ex-CIS billet deal last week at $382/mt CFR, while market sources confirmed that a steel producer in Turkey's Iskenderun region has concluded a deal for Russian billet this week at $387/mt CFR. Accordingly, it is possible to say that CIS suppliers have started increasing their export prices and that their new price levels have successfully gained acceptance in the foreign markets.