According to market sources, billet prices in the local Turkish market have increased by $5/mt over the past week to $435-442/mt ex-works. Demand in the local market has been at medium levels, while a producer in Turkey's Iskenderun region has concluded a deal in this price range for 10,000 mt of billet, for delivery at the end of the current month.
On the other hand, transaction activity in the billet market for imports is reported to be livelier. Most Turkish steel producers have halted their production or started maintenance works or reduced their shifts. Meanwhile, market sources inform SteelOrbis that reports have been heard of some Turkish producers concluding ex-CIS billet deals in the range of $400-405/mt CFR. However, foreign billet suppliers reportedly want to increase their prices. Even though market sources state that a CIS producer has given a billet offer to Turkey's Izmir region at $430/mt CFR, the offer which has been found to be on the high side is unlikely to be accepted. Deliveries from the CIS are currently for the end of January and are not considered to be very advantageous.
Meanwhile, currently Chinese billet offers for export are at $405/mt FOB, while these offers have failed to attract interest, at least in the Turkish market.