Turkish integrated steel producer Kardemir announced a new round of billet sales in Turkey on January 26, cutting prices by $15/mt from the previous week. Within a few hours, the supplier managed to sell a large volume and closed its sales.
Kardemir’s new billet price stood at $620-625/mt ex-works depending on the steel grade, while earlier the mill targeted $635-640/mt ex-works. According to sources, Kardemir managed to sell up to 45,000 mt of billet to domestic customers, which shows that the offered price level was workable. A similar price range has been fixed in a 6,000 mt deal in the Iskenderun region, while in the Marmara and Izmir regions the price level is at around $645/mt CPT/ex-works.
The import segment of billet in Turkey has been dull this week with offers from Russia not being numerous and settling at $580-595/mt CFR by the end of the week.
