The square billet market in Turkey remains largely inactive, while local prices have been relatively stable. Import offers have inched up a bit since CIS-based mills have achieved an increase in deal prices over the past week, though to some alternative destinations.
Domestic square billet prices in Turkey have remained at $400-415/mt ex-works, depending on the region of the country. Business activity is reportedly slow as buyers had partly restocked earlier. In the import segment, offers have increased by around $5/mt on average to $400-405/mt CFR. CIS-based billet suppliers have reached $390/mt FOB in sales to some alternative destinations and so they are not ready to give discounts to Turkish mills. “Steel producers still find it better to melt scrap rather than to use import billet, but re-rollers might buy,” a source said. Some bids from Turkish re-rollers have been reported at $390-395/mt CFR for December shipments; however, sources believe that the same levels may also be accepted by billet producers in Turkey for shipment in the first half of December.
In the export segment, Turkey is barely present with some rare offers reported at $400-405/mt FOB for January shipment. Some mills are ready for $5/mt concessions, sources say. Some demand might come from Saudi Arabia with buyers there seeking to get $410/mt CFR for orders of up to 50,000 mt, SteelOrbis has learned.