Given the rising import scrap, rebar and billet prices in Turkey, local integrated producer Kardemir has increased its offer billet prices over the past week by $15/mt. In fact, some demand has been seen at the new offer levels.
Kardemir has opened its billet prices at $600/mt ex-works for S235JR grade and at $605/mt ex-works for B420 grade. According to sources, 25,000 mt of billet have been traded for now and sales are closed. “The tonnage is not so large as to say the price is widely accepted, but clearly some are thinking in the market that prices are up. So, they are buying bit by bit,” a source told SteelOrbis.
As for the other billet producers in Turkey, offer levels in the Marmara and Iskenderun regions are at $630/mt CPT and $610/mt ex-works, respectively. Buyers in the Izmir area are expecting to be offered around $620/mt ex-works.
In the import segment, offers from Russia are at $550-555/mt CFR, up from around $545/mt CFR in deals done last week. Ex-Asia billet are at $560-570/mt CFR, namely from China, Indonesia, Malaysia and Vietnam.