Import billet price climbs in Turkey, interest limited

Tuesday, 12 November 2019 17:56:00 (GMT+3)   |   Istanbul
       

Ex-CIS billet offers to Turkey increased by some $5-10/mt over the past week to $395-405/mt CFR for end of December-January shipments, mainly fuelled by some sales to alternative destinations rather than by demand in Turkey. Turkish steel mills continue to largely concentrate on scrap imports, while the re-rollers currently in the market require billet for prompt shipments.

In the local Turkish market, pricing differs from region to region. Some deals in Iskenderun were reported at $395/mt ex-works to rebar rollers. In the meantime, cooperation with the sections producers has been more active due to more favourable pricing and demand. SteelOrbis has learned that around 20,000 mt were booked at the end of last week at $405/mt ex-works. Higher offers are also available in Iskenderun, but are not considered workable according to the market reality. “If you have some stock, they are ready to pay good prices. But if they need to wait for billet to be produced, they bail as they cannot read the rebar market for the next month,” a producer said.

In Izmir, the key sellers are offering $410-420/mt ex-works, but no fresh deals were reported. Some players, however, suggest that the high prices might be corresponding to some high grade billet or blooms. Local sections producers largely restocked last week, as SteelOrbis reported earlier.

In the Karabuk region, buyers are not too hungry for the new orders, having restocked with Kardemir billet. However, the producer is expected to announce new sales soon at an increased price.

Export prices from Turkey are mainly reported at $390-400/mt FOB and up to $405/mt FOB in some offers. Generally, demand for the Turkish billet is not sufficient, taking into account that the CIS is struggling to sell at $375-380/mt FOB.


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