Domestic billet demand in Turkey has increased against the backdrop of expectations of an increase in finished steel and semi-finished steel prices following the rises recorded in import scrap quotations.
Since Turkish producer Kardemir’s billet sales prices, which were revised to TRY 2,265-2,295/mt, excluding 18 percent VAT on January 15, were considered to be attractive and also gained support from the abovementioned expectations, the mill received orders for a total of 116,500 mt of billets and closed its sales on January 29.
On the other hand, other billet producers have raised their domestic offers by $10/mt on the lower end and by $20/mt on the upper end week on week to $440-445/mt ex-works amid higher production costs resulting from the rises in import scrap quotations.