According to market sources, producers'
billet prices in the Turkish domestic market have softened by $5/mt since last week and are now at $515-520/mt ex-works. Demand in the Turkish domestic
billet market has been weak due to lower transaction activity in the finished products market. Buyers are targeting a
billet price range of $505-510/mt ex-works, but
billet producers cannot offer the targeted prices due to higher raw material costs.
On the other hand, ex-CIS import
billet deals to
Turkey have been heard in the range of $501-505/mt CFR this week. Turkish buyers, who have been bargaining with CIS
billet traders since last week, have succeeded in obtaining the discounts they were seeking.