Market sources indicate that domestic producers'
billet prices in the local Turkish market have trended sideways since last week at $525-545/mt ex-works. This week in
Turkey's Iskenderun region the supply side had been expected to increase. However, an Iskenderun-based steelmaker, which has been unable to provide supplies to the market for a while, could not produce sufficient volumes this week, resulting in a continuation of the supply shortages in the local market. Meanwhile, Turkish
billet export offers are at $525-540/mt FOB.
On the other hand, ex-CIS
billet offers to
Turkey stand in the range of $510-525/mt CFR, though no new deals have been heard so far, while Turkish buyers are expecting a price cut for import offers.