According to market sources, local producers' prices in the Turkish domestic billet market have increased by $5/mt on the upper end and are currently at $510-530/mt ex-works.
In the meantime, Turkish steel producer Kardemir has only received demand for 6,500 mt so far in its domestic billet sales which were opened on July 17. Market sources state that buyers are cautious and are waiting to see a clearer demand situation after the Ramadan holiday. Meanwhile, local producers have increased their billet prices amid stronger import scrap prices and expectations of improved demand in the domestic market after Ramadan.
On the other hand, ex-CIS billet offers to Turkey are still at $515-520/mt CFR, indicating no change over the past week, while no new transactions have been heard in the price range in question.