SteelOrbis has been informed that billet prices of local producers in the Turkish market have increased by $10/mt over the past week to the range of $410-430/mt ex-works, while demand is currently slack.
According to market sources, two ex-China billet deals to Turkey's Iskenderun and Marmara regions were concluded last week at $358/mt CFR and $365/mt CFR, respectively, while Chinese billet offers given to a Turkish buyer this week were at $360/mt CFR.
Market sources state that ex-CIS billet offers have increased by $10/mt on average since yesterday, April 29, to $390-400/mt CFR. According to market players, a billet deal from the CIS was concluded in Turkey at $381/mt CFR last week, while no other import billet deals from the CIS have been heard since. Ex-CIS billet is not considered to be an alternative to import scrap in Turkish market since ex-CIS billet prices have remained firm after the gradual increase recorded in import scrap prices to Turkey.