Turkey-based integrated producer Kardemir has closed its billet sales which were launched yesterday, February 8. The producer has traded medium-volume batches and will most probably restart trade at renewed levels once the market gains some more clarity.
Today, February 9, Kardemir has decided to close its domestic billet sales, having traded around 20,000 mt at $635-640/mt ex-works depending on the grade and taking into account the deferred payment conditions. “There are no firm import [billet] offers, to give a clear understanding of what is going on and what the effects [of the earthquakes] will be. In any case, with the deferred payment, this is the lowest price for now and it is acceptable,” a source from the region said.
At the end of last week, the general billet offer level in the domestic market stood at $650-660/mt ex-works with the upper end fixed in deals in the Iskenderun region. It is clear that the mills located in the earthquake-affected area have suspended operations and are focused on tackling its effects.