According to market sources, an Iskenderun-based Turkish steelmaker sold 10,000 mt of
billet to an Egyptian trader at the weekend at the price level of $535/mt FOB. Meanwhile, Turkish mills have increased their
billet export offers by $5-10/mt this week to the levels of $540-545/mt FOB.
Market sources further indicate that Turkish
billet mills have gained an advantage in the Middle East and North African markets on the back of increased political tension in Ukraine, Metinvest's decision not to accept new
billet orders for a while, and due to some problems regarding the mill's shipments for previously received orders.