Turkish billet prices weaken due to low demand in Asia
Turkish
billet exporters are going through difficulties with the
billet prices going down due to the low demand from the Asian market. On top of that the rising
scrap prices and
freight rates make it even more difficult to book cargoes for
Taiwan or Chinese destinations. A further rise in the
scrap prices is also expected with
China, entering the market in the coming weeks.
Due to such situation in the market, margins for Turkish
billet exporters become tighter and tighter to such an extent that even some mills are considering to stop
production.