Sporadic deals have been reported in all three segments of the Turkish billet market with various tonnages booked. Though still a little shaky, the trade activity has improved supported by livelier local rebar demand and strong scrap prices.
Following Kardemir’s deals for almost 40,000 mt of billet at around $390-395/mt ex-works depending on the grade, some livelier trade has been seen in the Iskenderun region. According to sources, around 25,000 mt have been sold for close shipments at $404-405/mt ex-works, up by $10/mt over the past week. In the Izmir region, no deals have been reported, while offers are at $400-410/mt ex-works and above.
In the import segment, 5,000-10,000 mt in total have been sold from Russia to Bartin in Turkey at $382-383/mt CFR for prompt delivery. Bids to large ex-CIS mills have reportedly been coming at $380-385/mt CFR for August shipments, versus $390/mt CFR in the most recent offers.
In the export segment, a 10,000 mt deal was fixed last week to Morocco at $393/mt FOB, SteelOrbis has learned. The cargo is to be shipped in early July. According to sources, for later shipments Moroccan buyers have been bidding $400/mt CFR, while some Turkish mills have been aiming at the same level, but on FOB basis.