During the past week, demand in the Turkish
billet market has remained at low levels due to the ongoing political and economic turmoil in the country following the coup attempt on July 15. Meanwhile domestic
billet prices in
Turkey have moved sideways over the same period at $330-360/mt ex-works. Additionally, Turkish producers still prefer to use import scrap for finished steel production instead of
billet and so they are still postponing their
billet purchases.
On the other hand, import
billet offers to
Turkey have remained unchanged during the past week. Chinese
billet offers to the country are still at $325-335/mt CFR, while ex-CIS
billet offers to the same destination stand at $330-340/mt CFR.