Market sources indicate that local billet prices in the Turkish domestic market are standing in the range of $515-525/mt ex-works, up by $5/mt on the higher end since last week. Meanwhile, it is heard that some billet deals have been concluded in the Iskenderun region during the past week at the price levels of $517-522/mt ex-works. With the anticipation of stronger billet prices due to the upward trend of import scrap prices, buyers in the local billet market have started to evaluate offers in the market.
On the other hand, CIS billet offers for Turkey have increased by $5-10/mt over the past week to $515-520/mt CFR. This hike in import billet offers has caused Turkish buyers to focus on domestic offers.