Turkey’s integrated Kardemir has opened new billet sales in the local market after a long absence from the market. The supplier’s offer has been set at levels much lower than some of last week’s indications, bringing some clarity to the market. Still, according to sources, Kardemir’s price is not low enough to trigger large-volume sales since only around 20,000 mt have been traded so far.
Kardemir’s billet is available at $717/mt ex-works for S235JR grade, while its S420-B420 grade billet is available at $722/mt ex-works. Last week, some of the local producers indicated $760-780/mt ex-works, but currently some of them are trying to sell at $750/mt ex-works, but with no luck. “Clearly, the billet market is falling and we will see lower levels. Buyers openly indicate their price targets and local billet prices may be at $680/mt ex-works soon,” a trader told SteelOrbis.
In the import segment, offers have decreased by $5-10/m to $640-650/mt CFR and some price discussions have been reported at $635/mt CFR.
Prices exclude 18 percent VAT.
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