Demand in the local Turkish
billet market is still sluggish this week. Due to the ongoing declines seen in scrap prices, buyers are still postponing their
billet purchases and continue to exert downward pressure on prices of locally produced and import
billet, while the general view in the market is that import
billet prices will fall in the coming period. Nevertheless, prices in the local Turkish
billet market have moved sideways during the past week in the range of $275-290$/mt ex-works, for March production.
Meanwhile, ex-CIS
billet prices for
Turkey have remained unchanged over the past week in the range of $260-265/mt CFR. Also, Chinese
billet offers to
Turkey have remained stable in the same period at $255-260/mt CFR, while Iranian
billet offers to the same destination are still at $260/mt CFR.