Supported by import scrap prices resuming their upward trend in the current week after briefly moving sideways at the end of last month, domestic
billet prices in
Turkey have increased by an average of $7.5/mt week on week. As a result, Turkish steel producers' domestic
billet offers have reached $425-430/mt ex-works. Meanwhile, Turkish buyers are still concluding purchases only in line with their needs.
During the past week, ex-CIS
billet offers to
Turkey have moved up by $5/mt on the lower end to $420-435/mt CFR. Turkish buyers' demand for ex-CIS
billet is still weak.
On the other hand, Chinese
billet offers to
Turkey have decreased by $27.5/mt week on week to $430-435/mt FOB. However, this price range is still considered to be very high by Turkish buyers, and so demand for Chinese
billet in
Turkey has remained weak.