During the past week, demand in the local Turkish rebar market has emerged from its recent sluggishness. Market sources state that domestic demand for billet has strengthened against the backdrop of the halt seen in the downtrend of import scrap prices in Turkey in recent deals. As a result, buyers have started to make new billet purchases, having previously postponed their purchases for some time.
In the current week, SteelOrbis has been informed that a billet producer in Turkey’s Iskenderun region has concluded domestic sales of 45,000 mt at $531/mt ex-works and 20,000 mt at $535/mt ex-works.
Considering these sales, it is observed that Turkish billet producers have kept their domestic prices stable week on week at $525-535/mt ex-works. However, SteelOrbis has been informed that the most recent domestic billet offers in Turkey are closer to the upper end of the price range in question.