According to market sources, although demand is still at low levels, prices in the local Turkish
billet market have increased slightly during the past week by $5/mt on the upper end to the range of $390-400/mt ex-works, on the back of strong import scrap prices.
Meanwhile, this week ex-CIS
billet offers to
Turkey are at around $375-380/mt CFR. Market sources have confirmed that a Turkish steelmaker has concluded an ex-Ukraine
billet deal at $365/mt FOB, while CIS-based suppliers believe the postponed demand in the foreign markets is being released and they may conclude new sales to
Turkey in the coming days. On the other hand, recently Iran has begun to have a more concrete impact on the Turkish
billet market. Market sources report that Iranian
billet offers to
Turkey are now at $370/mt CFR Iskenderun, for shipment in May, while buyers are now showing more interest in Iranian offers following the easing of economic sanctions against Iran.