Having moved sideways for three consecutive weeks despite the declines seen in import billet and scrap quotations, domestic billet prices in Turkey have fallen by an average of $10/mt in the current week to $500-510/mt ex-works with the influence of the weakness of demand. Market sources state that demand in the local Turkish long steel market is at low levels amid the ongoing high volatility of the Turkish lira-US dollar exchange rate, and so Turkish rolling mills are unwilling to restock. Also with the approaching Feast of Sacrifice holiday, which will last a full week starting from August 20, demand in the local Turkish billet market is expected to remain at low levels in the short term.