According to market sources,
billet prices in the local Turkish market are currently in the range of $430-450/mt ex-works, depending on the different regions of the country. Over the past two weeks, the order books of a producer in
Turkey's Iskenderun region has been heard to be full for December shipments, while the producer in question has not yet started to accept new orders. With demand being on the weak side in the local Turkish
billet market, producers are limiting their outputs of
billet and so
billet supply in the market is on the low side.
On the other hand, market sources state that a couple of ex-CIS
billet deals have been concluded over the past week in
Turkey in the range of $425-435/mt CFR Marmara. Market participants say that Turkish buyers have been giving counter-offers at lower prices and, even though their requests have not yet been accepted, the general consensus is that
billet prices will soften in the coming days.
Meanwhile, there have been no significant sales to the export markets and so Turkish producers are not giving offers to the overseas markets.