The billet trade has remained active in Turkey’s Iskenderun region where there is still decent demand and a limited number of suppliers willing to sell. At the very end of last week, a local steel producer sold a total of 40,000 mt of billet to various buyers at $480/mt ex-works. As a result, the seller achieved a $10/mt increase compared to the most recent sales in the region. The new offers are at $485/mt ex-works minimum.
The uptrend in the billet segment in Turkey is supported by the positive situation in the scrap market, the somewhat tight availability in the semis market, and for now the positive rebar and wire rod price trends. Higher local prices are expected to provide some room for imports, while the most recent bids, according to some CIS-based mills, were received at $475/mt CFR, as SteelOrbis has reported.