A downward expectation in Turkey’s import scrap segment has resulted in lower billet bid prices, which have been accepted by local Turkish suppliers. According to sources, a mill located in the Iskenderun region traded 15,000-17,000 mt of square billet at the end of last week at $420/mt ex-works. Earlier, the offer levels were $5/mt higher. In the northern region, billet buyers expect Kardemir to announce its new sales price shortly. The level is expected to be settled again at around $420/mt ex-works.
Import offers are expected to gain clarity this week, but most market sources believe it would be hard for the sellers to find a buyer at above $410/mt CFR. Last week, the range of offers was at $410-420/mt CFR, as SteelOrbis reported earlier.