In last week's Turkish domestic market, producers' local steel
billet offers were standing at $635-650/mt ex-works. Besides,
billet prices were firm and producers were unwilling to sell
billet below $635/mt ex-works. In the meantime, in
Turkey's Iskenderun region high volume
rebar exports to Iraq were being concluded last week at $700-710/mt ex-works and these higher finished steel prices allowed steel
billet prices to reach $645-650/mt ex-works in this region.
Moving to this week, the fast decline observed in long steel prices in
Turkey and the softening seen in ex-
CIS steel
billet offers have also affected the Turkish domestic steel
billet market. As of today, April 20, steel
billet prices in
Turkey are now standing at $625-635/mt ex-works and buyers are not inclined to conclude any bookings above $635/mt ex-works. Weak finished steel demand in the domestic and foreign markets continues to negatively affect the semi-finished steel market.