Square billet prices fall in Turkey

Thursday, 29 August 2019 16:50:22 (GMT+3)   |   Istanbul

Billet export offers from Turkey are rare as mills find it tough to compete with CIS suppliers, whose offers have declined below $400/mt FOB this week. Only a few sellers have been reportedly ready to deal for September production at around $405/mt FOB, but there are no takers of Turkish billet these days. “The CIS will still take all [orders] if any, as we can hardly compete, even today when the scrap is down,” a producer told SteelOrbis.

The majority of the billet import offers to Turkey have been reported at $410/mt CFR, while earlier $415-420/mt CFR prices were widely spread. However, buyers are not eager to accept anything above $400/mt CFR for prompt shipments, while the deals for October shipments are targeted at $390-395/mt CFR and below.

The domestic billet prices in Turkey are ranging within $410-415/mt ex-works in most regions, with some small sales closed in Iskenderun.

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