According to market sources, prices in the local Turkish
billet market, which were at $390/mt ex-works last week, are now at $400-410/mt ex-works. Market sources underline that demand has made no progress in the Turkish
billet market and transaction activities are slack, while buyers have only been concluding deals for low tonnages in order to meet their immediate needs. Despite the weak demand, prices in the local Turkish
billet market have increased as a result of the problems on the supply side,
as we had also mentioned last week.
Meanwhile, transaction activity for imported
billet in the Turkish market is quiet these days, as import scrap prices have indicated a softening trend. Ex-CIS
billet offers to the Turkish market have remained stable as compared to last week at $360-365/mt FOB, but have failed to attract interest from Turkish buyers. Also, Chinese
billet offers to
Turkey are at $330-335/mt FOB, for April shipment, but these offers have not gained much response from the demand side in the Turkish market.