Turkish steel producers have shown rather a lively interest in purchasing Euro 1 billet and slabs offered to the market by British Steel. As a result, the supplier has closed deals for a large total volume of semis but has also traded some finished steel.
The UK-based producer has recently sold a medium-sized batch of slabs to Turkey at slightly below $375/mt CFR, SteelOrbis has learned. At the same time, deals from the CIS were closed at $370-375/mt CFR for July production. In addition, a couple of billet lots were sold by British Steel within the range of $375-380/mt CFR, around $5-10/mt higher than the offers from the CIS at that time. “Euro 1 material has an advantage in Turkey, since there is no tax. Especially in slabs it matters, since Europe is a key sales destination for HRC for Turkey and the availability of Euro 1 slab has been almost zero for years now,” a large trader said.
In addition to semis, British Steel has managed to sell some finished steel for export, i.e. wire rod and sections. As a result, around 80,000 mt of steel have been traded recently, all for August shipment. According to sources, the supplier is in the market to sell some additional volumes. British Steel has been active in the market after a long absence, aiming to re-establish firm market positions after its restart. In early April, the company assigned its exclusive export agency to Turkey-based DLT.
