Domestic square billet prices have continued to climb in Turkey in the most recent deals, disclosed to the market. According to sources, a 10,000 mt lot has been freshly booked in the Iskenderun region at $418/mt ex-works. Prior to this sale, same producer traded small lot at $412/mt ex-works and around 10,000 mt at $415/mt ex-works, all done this week, as SteelOrbis reported. Another large supplier in the region has also traded 10,000 mt at $415/mt ex-works, sources report.
The Iskenderun region is considered to be the most active in terms of local billet trade for now, taking into account traditionally sufficient supply. Buyers from the Izmir region might become active in import purchases shortly with offers from the CIS expected at $410-415/mt CFR. Some might buy from the Marmara region-based mill as it has already happened earlier.
In the northern region of the country market players expect Kardemir to open billet sales after the holiday and its price will largely define the import prices in the region. For now nothing lower than $415/mt ex-works is expected.
Billet prices in Turkey are to remain strong for now, supported by sustainable uptrend in the import scrap segment and expected rebar demand revival after the holiday.