The latest billet export offers ex-Turkey are in a price range of around $530-540/mt FOB Turkish port for December shipments, on actual weight basis.
Turkish producers have been trying to increase their billet export prices due to the high scrap prices and the slight upward movement in longs prices. In addition, the high levels of CIS billet offers have been facilitating the Turkish producers' bid to increase their prices. However, it appears difficult for Turkish producers to reach their intended levels under the current market conditions.
The price level of $520-540/mt ex-works is currently heard in the Turkish domestic billet market. Yet, due to the fact that long product prices are not high enough, the rolling mills, especially rebar-producing ones, have been reluctant to purchase at these levels.