According to market sources, Turkish producers' domestic billet prices have increased by $5/mt on the upper end over the past week to $310-320/mt ex-works, excluding 18 percent VAT, and for December delivery. Market sources state that demand for locally produced billet in the Turkish domestic market has been quiet in the same period, while prices are considered to be on the high side due to the low levels of import billet offers. Turkish buyers are in no rush to conclude transactions for imports or domestic production amid year-end considerations, while they have continued to make inquiries in particularly for Chinese billet.
In addition, Chinese billet offers to Turkey are at $260-265/mt CFR for December shipments, while it is possible to conclude purchases of Chinese billet at $255-260/mt CFR Turkey for shipment in subsequent months. Meanwhile, ex-CIS billet offers have remained unchanged week on week in the range of $285-290/mt CFR.