Having accelerated last week, purchases of domestic billet in Turkey have once again slackened during the past week. In the same period, Turkish steel mills’ import scrap purchases have also slowed down, while the rising trend of import scrap prices has lost momentum. Accordingly, domestic billet quotations in Turkey have remained stable this week in the range recorded at the end of last week at $520-540/mt ex-works after starting last week at $515-530/mt ex-works.
Ex-CIS billet offers to Turkey have also remained unchanged week on week at $515-520/mt CFR. Turkish buyers’ demand for import billet has remained weak during this period, while market sources believe that Turkish buyers will be in no rush to conclude new billet purchases as they are monitoring the market to gain a clearer picture of the future trend since rebar sales in Turkey have become more sluggish this week.