Demand in the local Turkish billet market has fluctuated during the past week. It is heard that some Turkish finished steel producers have made price inquiries for both domestically produced and import billet. Due to the ongoing high levels of import scrap prices, Turkish billet producers have increased their domestic quotations by $5/mt on the upper end week on week to $480-490/mt ex-works.
On the other hand, ex-CIS billet prices to Turkey are currently at $475-480/mt CFR and, according to market sources, Turkish buyers are exerting downward pressure on this price range.