Domestic and import billet offers in Turkey decline

SteelOrbis has been informed that Chinese billet offers to Turkey are currently in the range of $245-250/mt CFR for January shipment, while they are at $240/mt CFR for February shipment. Accordingly, two Turkish steel producers have concluded deals for Chinese billet in the current week at $240/mt CFR for February shipment.
 
CIS billet suppliers are under pressure from the declines seen in Chinese offers to Turkey, while they are currently offering billet to the same destination at $280-285/mt CFR. Meanwhile, discounts of $10/mt are offered to Turkish buyers by CIS billet producers for direct sales.
 
On the other hand, locally produced billet prices in the Turkish market are currently in the range of $295-300/mt ex-works. Buyers consider this price range to be on the high side and so demand in the local Turkish market has remained weak in the same period. Also, Turkish steel producer Kardemir has failed to attract interest with its new billet prices at $298/mt ex-works which were announced on December 9. Turkish buyers are still making inquiries for Chinese billet but are showing no interest in domestic billet offers.