Demand stagnates in local Turkish billet market

Wednesday, 25 April 2018 16:24:16 (GMT+3)   |   Istanbul
       

The weak demand which has prevailed the local Turkish billet market for a while now has continued to be observed during the past week, while buyers are still concluding purchases only in line with their needs. The main reason for the weakness of demand is reported to be the slowness of Turkish mills’ long steel sales to both their domestic and export markets. Additionally, it is believed that the lack of a rush among buyers to conclude new deals due to their expectations of a further fall in import scrap quotations in Turkey has contributed to the weakness of demand. Not many domestic billet offers from Turkish mills have been heard in the current week, though market sources state that the most recent domestic billet offers were at $530/mt ex-works.

 


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