Billet prices in the Turkish domestic market have moved up by $10-20/mt since last week to $535-555/mt ex-works.
There are increased expectations for further upward movement in the Turkish billet market since billet demand has recovered in the export markets, particularly in Iraq, while raw material prices have maintained their strength and ex-CIS billet prices stand at $520/mt FOB on the low end. These increase expectations have also been reflected in the local Turkish rebar market.