While Turkey’s interest in billet imports has been modest lately, some business activity has been seen in the local market and in sales abroad.
According to sources, a Turkish mill has sold 25,000 mt of square billet to Peru this week, with the price level said to be slightly below $430/mt FOB base or close to $435/mt FOB for high manganese. The general level of billet offers from Turkey, from the Iskenderun region specifically, is at $430/mt FOB for February shipments.
In the local Turkish market, around 20,000 mt have been sold in the Iskenderun region at $420/mt ex-works, while the offers are mainly at $425/mt ex-works and above. In addition, a Marmara region-based steel producer has sold 10,000 mt at $420/mt ex-works. Around two weeks ago, the same supplier closed a deal to the Izmir region for 25,000 mt of billet at $425/mt ex-works Biga, SteelOrbis has learned. In Izmir, the local prices for billet are mainly set at $425-435/mt ex-works with higher levels also being available.
Import offers currently vary in Turkey. While mills from the CIS are not eager to sell below $430/mt CFR, sources report there are position cargo offers from traders available at around $420-427/mt CFR depending on the region. Some higher import activity may be seen next week, sources say.