While CIS-based billet producers have increased their export offers, Turkish buyers have been resisting acceptance of higher offers. Mixed expectations in the scrap segment are one of the reasons. In addition, local price levels restrict the upward mood in the import segment.
In the domestic market, the latest deals have been closed at $435/mt ex-works Iskenderun for a total of 20,000 mt, SteelOrbis has learned. The previous deals in the region were sealed at $433/mt ex-works for small lots. In the Izmir region, offers have been set at $450/mt ex-works. In the Karabuk area, aside from the earlier reported Kardemir sales at $428-433/mt ex-works, offers from the EAF-based producer are at $433/mt ex-works with no deals reported.
Import activity has been scarce with offers voiced at $425-435/mt CFR and above. As a result, buyers want to evaluate the import scrap market situation, but also for now prefer to deal for local billet at similar levels. SteelOrbis has learned about one deal at $426/mt CFR for a small cargo for prompt shipment.
Export offers from Turkey are at $435/mt FOB for October shipments. A 5,000 mt sale was done this week, most probably to a nearby destination, at $435/mt FOB, SteelOrbis has learned,