The latest billet export offers ex-Turkey are in the price range of $515-520/mt FOB Turkish port for late October shipments.
Due to the slowdown in the longs market and the billet market's relatively stronger position, compared to longs, producers have been trying to put the emphasis on billet sales.
The current billet price level in the local market is $520/mt + 18 percent VAT. However, due to the decision of some rolling mills to slow down their production volumes, the billet demand in the local market is not as strong as it was in early September.