During the past week, demand in the local Turkish
billet market has continued to be characterized by weakness.
As per its new price list dated September 27, Turkish steel producer Kardemir reopened its
billet sales at $330/mt ex-works, reducing its prices by $10/mt compared to its previous sales closed on September 2. However, following the new price announcement made by Kardemir, domestic demand for
billet in
Turkey has failed to improve, and so prices in the local Turkish
billet market have declined by $10/mt on the upper end to $330-340/mt ex-works.
Meanwhile, ex-CIS
billet offers to
Turkey have declined by $10/mt on the lower end during the past week to $300-325/mt FOB amid declines seen in scrap prices and due to the weakness of demand. However, Chinese
billet export prices have increased by $5/mt on average since last week to $330-335/mt FOB due to the upward trend of the Chinese futures market. As a result of these developments, import
billet offers to
Turkey have declined by $10/mt on the lower end and increased by $5/mt on the upper end week on week to $320-355/mt CFR.