Today, January 26, Turkey’s Kardemir has opened its local billet sales after being absent from the market for a month.
Accordingly, Kardemir has set its billet offer prices at TRY 4,330/mt ($584/mt) ex-works for S235JR grade, while its S420-B420 (formerly III-A) grade billet is available at TRY 4,365/mt ($588/mt) ex-works. Prices exclude 18 percent VAT. The abovementioned prices are TRY 310/mt ($28-29) below the levels previously announced by the company on December 25.
According to sources, low demand, weaker scrap prices and competitive ex-CIS billet offers are the main reasons for the decrease in Kardemir’s billet prices. Billet price levels from the CIS have been reported at $580-590/mt CFR while the bids are $10-15/mt lower, SteelOrbis has learned.
$1 = TRY 7.42