Prices increase sharply in local Turkish billet market

Demand in the local Turkish billet market has recovered significantly this week and is now at medium levels. Market sources state that the sharp increases in Chinese billet export offers have been reflected in the local demand as a sudden recovery, leading to tightness in supply from time to time. Additionally, locally produced billet prices in Turkey have been affected by the upward movement seen in Chinese billet offers, increasing accordingly, supported by the tightness in supply. During the past week, locally produced billet prices in Turkey have increased by $47.5/mt to $325-370/mt ex-works, for April production.