Turkish domestic billet prices decline in deals in Iskenderun region

Monday, 05 October 2020 17:27:59 (GMT+3)   |   Istanbul
       

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.


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