Costlier scrap and the uptrend in the rebar segment in Turkey have given a boost to the local Turkish billet prices. Some buyers chose to accept somewhat higher levels compared to last week, being sure that a trend reversal will not be seen for a while now.
In the Iskenderun region, according to sources, 17,500 mt were sold at $429/mt ex-works, while last week the deals were at $420-423/mt ex-works. In addition, another mill in the same region has traded 10,000 mt at $430-432/mt ex-works. The new offers are at $435-440/mt ex-works, SteelOrbis has learned.
In the import segment, some deals for prompt shipment were closed at $418-422/mt CFR depending on the region. The majority of offers for October shipments are at $427-435/mt CFR, with no deals reported.
As regards exports, a few rumors have been discussed in the market, but without any solid confirmation as of now. According to the market information, one mill traded a large lot to Peru at $426/mt FOB, while another one sold at $430/mt FOB to Morocco.