The uptrend seen this week in particular in rebar export offer prices given from Turkey to the Middle East and North Africa has helped push up the prices of CIS and Turkish billet during the current week.
Offers given from the CIS to the export markets have climbed to $330/mt FOB, and it is heard that there has been some interest in this price level. However, some rolling mills are not attracted by these offers since they are for May/June shipment, especially as it is hard to predict stability of price levels up to the months in question.
On the Turkish billet side, prices have continued to rise on the back of the uptrend in scrap prices. Local billet market prices are currently at $360-370/mt ex-works in Turkey, with export prices also in the same range. It is heard that the price range in question appears high to the rolling mills in the local market.
