Having sold some sizeable billet lots for export over the past couple of weeks and also being supported by climbing scrap prices, Turkish mills have increased their semis prices as expected. Import billet offers have naturally risen also.
In the Turkish domestic market, square billet offers are at $415-425/mt ex-works depending on the region, while the latest deals have been closed at $400-405/mt ex-works, in the Izmir and Iskenderun regions specifically. This week, sellers have been rather firm in their offers, being supported by the solid uptrend of scrap prices. Moreover, the offer levels are gradually being accepted. A Marmara region-based mill has recently booked 10,000 mt for prompt shipment at $412/mt ex-works Samsun region, SteelOrbis has learned.
As regards exports, no significant business activity has been reported this week, mainly because most of the orders were covered by Turkish and ex-CIS billet deals over the past two weeks. After sales at $390-400/mt FOB, Turkish mills are now targeting to sell not lower than $410-415/mt FOB. Some small lots have been traded this week at $415/mt FOB, SteelOrbis has learned.
In the import segment, offers for ex-CIS billet have increased, but vary depending on the seller. First-tier CIS-based mills are in the market with $415-420/mt CFR offers for April shipments, up around $10/mt over the past week. However, some 10,000 mt position cargoes are reportedly available at $400-405/mt CFR to be shipped in March. Turkey’s interest in imports has been moderate so far as Turkish buyers are mainly waiting to see a clearer picture.