Domestic billet deal prices in Turkey have continued to climb day by day taking into account the uptrend in the import scrap segment and the limited billet allocation in the market. Small lots have again been traded by the Iskenderun region-based mill at $605/mt ex-works to neighboring re-rolling companies. Another small batch was sold to a Karabuk region-based buyer at $609/mt ex-works, SteelOrbis has learned. At the end of last week, deal prices stood at $592-595/mt ex-works, as reported earlier.
In the import segment, there is information about a 10,000 mt sale of wire rod grade billet at $590/mt FOB, which would be equal to $605/mt CFR Turkey. However, it has not been confirmed by the time of publication. Still, since scrap prices have surged since last week, CIS-based billet mills remain bullish and there is hardly any offer below $580/mt FOB. Moreover, most of them are targeting up to $600/mt FOB on the back of the so far positive market. As a result, SteelOrbis’ daily price for the ex-CIS billet is now at $580/mt FOB, up by $5/mt since last week.