Following Kardemir’s billet sales and the decline in the import scrap deal prices seen in the most recent contracts in Turkey, sentiment in the local billet Turkish market has weakened. In the Iskenderun region, another 5,000 mt were traded at $416/mt ex-works, slightly below the previous deal closed earlier this week. In the Izmir region, the level of $415/mt ex-works is reportedly available, while bids in the Karabuk region are at $410/mt CPT, sources say.
In the import segment, buyers and sellers have been trying to evaluate the workable billet price levels. This week, according to sources, around 20,000 mt were traded to the northern area and the Izmir region within $402-408/mt CFR depending on the buyer. The tonnage is for prompt shipment. Large suppliers have been indicating closer to $415-420/mt CFR and above, but those levels are considered to be too high for Turkish buyers in the current market conditions, SteelOrbis understands.