Domestic billet prices in Turkey have remained at $495-510/mt ex-works this week, while most offers heard in the local Turkish billet market are reportedly at $505/mt ex-works. Despite the rises seen in import scrap prices, domestic billet quotations have not increased due to the influence of the declines recorded in ex-CIS billet prices as well as the weakness of demand in the local Turkish billet market.
Market sources state that ex-CIS billet prices in Turkey have decreased by an average of $5/mt week on week to $495-510/mt CFR. Although demand for import billet in Turkey has also failed to revive during the past week, it is heard that a new import billet deal has been concluded in Turkey this week at $485-495/mt CFR.