This week, the Iskenderun region has seen the most lively billet trade in Turkey with small lots booked locally with a price increase since late May. A small sale was closed at $385/mt ex-works, while by the end of the current week two more lots have been traded at $392-394/mt ex-works. In total, up to 15,000 mt of billet has traded in the region. The latest offers have been set at $400/mt ex-works, SteelOrbis has learned. In other regions of Turkey, billet offers have been sporadic and mostly set at close to $390-400/mt ex-works or even above. Integrated producer Kardemir, having sold large volumes previously, has decided to stay away from the market this week.
In the import segment, import billet offers have been coming to Turkey at $370-380/mt CFR for June-July shipments. Closer to the end of the week, some of the mills have increased the prices by $5/mt. As a result, Turkey has preferred billet with shorter lead times. Around 10,000 mt were booked at $375/mt CFR, SteelOrbis has learned. Some mills are expected to show interest in billet bookings also as scrap prices have inched up again in the latest deals.