SteelOrbis has been informed that the price idea for billet in the local Turkish market is currently varying in a range of $1,100-1,150/mt ex-works, excluding VAT.
The billet prices in the local Turkish market have been maintaining their downtrend. Although a local producer announced the billet price level of $975/mt + VAT on August 5, the overall billet price level in the local market is at higher levels compared to this announced price. However, the rebar and the merchant bar rolling mills think that the billet prices may soften further, since rebar, merchant bar and raw material prices have been declining for a month now without cease. Thus, they are acting with deliberation when faced with current local billet offers.