Billet prices in the local Turkish market have this week been in the range of $1,280-1,300/mt ex-works. The price range of $1,300-1,320/mt FOB is mentioned in billet exports in this market, having registered an increase of $10-20/mt in recent weeks. However, the Turkish billet producers have also concluded rebar deals for August and September. For this reason, they are reducing their billet supply and using billet for their own rebar production instead.
Ukraine production billets have this week been offered by international traders in the range of $1,160-1,200/mt FOB. It is reported that the mills may reduce their prices to the abovementioned levels since traders with previously taken positions may offer at lower levels compared to the mills' prices. It is heard that in the past week a deal for prime quality billet was concluded from Ukraine to Turkey at $1,200/mt CFR.
Billet prices in the Spanish domestic market have remained unchanged. It is heard that billets in this country have been offered to local (ex-works, excluding VAT) and export markets (FOB) at the same price level: €780/mt.
Meanwhile, it is heard that there have been billet offers to Turkey at various price ranges from Vietnam (which is suffering from financial troubles in its own local market), China (which is easily managing to perform exports despite the country's export duties), and from India.