According to market sources, ex-CIS billet offers to Turkey have declined by $15/mt on average during the past week to $300-305/mt CFR, for October shipment. Market players state that CIS billet suppliers have had to reduce their prices further for Turkey due to the declines in import scrap prices to $200/mt CFR Turkey. However, demand for ex-CIS billet is still slack in Turkey despite the gradual declines seen in billet prices and no new deals have been heard yet.
On the other hand, although Chinese billet offers to Turkey are currently at $290-295/mt CFR and are considered to be attractive, no new Chinese billet deals have also been heard in the Turkish market.