Billet booked mainly locally in Turkey, further uptrend questionable

Thursday, 13 August 2020 16:24:03 (GMT+3)   |   Istanbul
       

Bullish suppliers’ moods have somewhat cooled off in Turkey’s billet market, following local producer Kardemir’s sales at the price, lower than was initially expected. As a result, the uptrend has been somewhat restricted in the import segment, while in the local market the prices in some regions have weakened.

In the local market, Kardemir has sold over 80,000 mt of billet locally at $415/mt ex-works, while most of the mill’s competitors had been expecting an offer level $10/mt higher. As a result, the mood in the Karabuk region is somewhat confusing and buyers are waiting for solid import offers. According to sources, local mill Mescier has offered $420/mt CPT for some limited quantity.

In the Iskenderun region, offers were as high as $428-430/mt ex-works, though some of the local mills have been ready to deal at $424-425/mt ex-works. Around 30,000 mt in total were traded this week at $420/mt ex-works and slightly above, SteelOrbis understands. In the Izmir region, according to sources, the offer level is at $425/mt ex-works.

Import offers from some ex-CIS mills are at $420-422/mt CFR northern Turkey and up to $425/mt CFR to the Izmir and Iskenderun regions. Buyers are cautious and only some of them have been bidding $405/mt CFR Izmir, SteelOrbis has learned.


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