Business activity in the square billet market in Turkey has been moderate this week, with some deals closed in the local and import segments.
A billet producer in the Iskenderun region has traded 18,500 mt this week at $426/mt ex-works, up $4/mt over the past week. In the northern region, the EAF-based billet producer has been offering $423/mt CPT this week, while in the Izmir region the minimum offer price is $425/mt ex-works as the high wire rod prices in the area have caused billet suppliers to be bullish in terms of offers.
In the import segment, small deals have been closed this week for prompt shipment at $412-414/mt CFR northern Turkey and at $416-417/mt CFR Aliaga, SteelOrbis has learned. The total tonnage is around 25,000 mt. In addition, there were some offers at $425/mt CFR Iskenderun, but the buyers have returned with bids around $10/mt lower. Large CIS-based producers are targeting $420/mt FOB and above, which is a bit far from the Turkish market’s expectations.