Turkish mills’ domestic billet prices have remained at $510-520/mt ex-works again this week, despite the fall seen in import scrap and import billet quotations in Turkey.
Market sources state that Turkish billet producers are ready to conclude sales if the abovementioned price range is accepted, but buyers are unwilling to make purchases since the Turkish lira has once again lost significant strength against the US dollar this week. As a result, demand in the local Turkish billet market is still at low levels, while trading activity is not expected to revive in the short term considering the slowness of demand for Turkish finished steel in both the domestic and export markets.