During the past week, demand in the Turkish billet market has remained at low levels due to the ongoing political and economic turmoil in the country following the coup attempt on July 15. Meanwhile domestic billet prices in Turkey have moved sideways over the same period at $330-360/mt ex-works. Additionally, Turkish producers still prefer to use import scrap for finished steel production instead of billet and so they are still postponing their billet purchases.
On the other hand, import billet offers to Turkey have remained unchanged during the past week. Chinese billet offers to the country are still at $325-335/mt CFR, while ex-CIS billet offers to the same destination stand at $330-340/mt CFR.