Billet hits $420-430/mt in all segments of Turkish market

Friday, 13 December 2019 12:12:16 (GMT+3)   |   Istanbul
       

Billet prices in Turkey have increased significantly over the past week, supported by the solid uptrend in the import scrap segment. For now, some activity has been seen in the local and export segments, while imports may become more active next week.

Export prices from Turkey have jumped to $420-430/mt FOB for January-February shipments, versus $400-410/mt FOB a week earlier. There has been a lot of discussion regarding rumors of a 15,000 mt sale for the north of the country at $425/mt FOB. In addition, a 10,000-15,000 mt lot was reportedly booked from Iskenderun for January shipment at $430/mt FOB for North Africa. Most market players believe such export levels are too high for now for direct sales. “All the high-priced sales today are either position cargoes or traders averaging out with previous low-priced bookings,” a trader said. “It doesn’t mean $430/mt FOB works,” he added. The realistic ex-CIS billet level at present is estimated at $405-410/mt FOB.

Import offers to Turkey have been mostly coming at $420-430/mt CFR for February shipments, up $10/mt over the past week. No fresh deals have been reported, though negotiations continue. Some traders say levels higher than $420/mt CFR are not reachable for now and some bids have been reported at $415/mt CFR. In the local market, Izmir region-based mills are quoting $430/mt ex-works and up to $440/mt ex-works. In Iskenderun, billet is on offer at $425-430/mt ex-works at the end of the week. According to sources, around 20,000-30,000 mt were sold at $420-425/mt ex-works.


Similar articles

Ex-Asia billet offers become more affordable in Turkey, market slightly optimistic

27 Mar | Longs and Billet

Ex-India billet prices stable, but buyers try to push below $490/mt FOB

27 Mar | Longs and Billet

Ex-ASEAN billet sales continue at low prices, China turns negative again

26 Mar | Longs and Billet

Global View on Billet: Better sentiments, suppliers fail to achieve higher deal prices so far

22 Mar | Longs and Billet

Turkey’s Kardemir issues planned sales volumes for April-June

22 Mar | Steel News

Import billet prices in SE Asia hit new low, trend reversal anticipated

21 Mar | Longs and Billet

Domestic billet sales livelier in Turkey, import price range narrows amid limited allocation

21 Mar | Longs and Billet

Ex-India billet sellers ready to accept lower prices to push sales amid weak local conditions

20 Mar | Longs and Billet

India’s RINL floats export tender for 30,000 mt billet for end-April shipment

20 Mar | Longs and Billet

Iran’s steel exports up 7.6 percent in first 11 months of Iranian year

20 Mar | Steel News