Stronger market fundamentals continue to support billet prices in Turkey with new deals closed in the local market. Imports remain rather slow with only occasional sales reported.
According to sources, a mill in the Iskenderun region has traded a total of 15,000 mt of billet locally at $434/mt ex-works in addition to the earlier reported 5,000 mt at $435/mt ex-works. Later, another lot was traded at $440/mt ex-works. “This level is reasonable and I believe it is a new reality now,” a trader told SteelOrbis. In the Izmir region, the mills have been targeting $440/mt ex-works, while the latest deals in the area were closed at $425/mt ex-works early last week. Kardemir is expected to announce its offers on Tuesday, SteelOrbis understands.
In the import segment, offers from the CIS are mainly at $430-440/mt CFR depending on the seller. According to sources, a 10,000 mt lot of wire rod grade billet has been sold at $440/mt CFR Iskenderun.