Local Turkish billet market indicates a downtrend

Wednesday, 19 June 2019 15:10:42 (GMT+3)   |   Istanbul
       

Domestic billet prices in Turkey have decreased by $10/mt during the past week to $435-440/mt ex-works. Buyers in the local Turkish billet market are reluctant to conclude new deals amid the weakness of domestic rebar and merchant bar demand.

Additionally, one supplier’s ex-CIS billet offers to Turkey are at $435/mt CFR in the current week. Before the end-of-Ramadan holiday, a Turkish rolling mill had concluded an ex-CIS deal for 3,000 mt of billet at $432/mt CFR, for June delivery.

Meanwhile, SteelOrbis has been informed that Turkish mills have reduced their billet export offers by $15/mt week on week to $425-430/mt FOB to be able to compete in the global market with CIS-based billet suppliers’ export offers which are currently in the range of $420-425/mt FOB. It is also heard that Saudi Arabia is attracting attention as an active market for Turkish billet exports.

 


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