Despite firmer scrap deal prices and a number of ex-CIS billet transactions to various destinations at $410/mt FOB at the lowest, Turkish buyers are still not ready to accept higher billet prices on the import side. Offers for November shipments are mainly at $415-420/mt CFR depending on the seller and the volume, while last week 21,000 mt were sold at $402-408/mt CFR in small lots for prompt shipments. However, this week buyers are still not ready to pay above $400-410/mt CFR, SteelOrbis understands.
In the local market, offers in the Iskenderun region have moved up to $420/ex-works, up $4/mt from the latest deal. Some sources state there have been no deals partly as rebar offers are lagging somewhat behind billet offers. Kardemir may announce new billet sales, with the level expected to be at $420/mt ex-works minimum.