Local Turkish billet market moves up with support from higher scrap prices

Wednesday, 08 March 2017 15:55:02 (GMT+3)   |   Istanbul
       

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.

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