It is observed that demand in the local Turkish billet market has remained at low levels during the past week. It was heard last week that Turkish billet producers were offering discounts for deals for high tonnages but after the rises recorded in scrap prices last week, these discounts have been withdrawn. Accordingly, Turkish mills’ official domestic billet prices have remained unchanged over the past week at $420-435/mt ex-works.
Meanwhile, Turkish billet exporters’ offers are still at $420/mt FOB, while demand for Turkish billet in the international markets is weak.